KDBS releases Q1 2020 Consumer Price Index/Inflation Report from January – March 2020
Publication date: 2nd May 2020
The CPI Year-On-Year Inflation Rate for Kaduna State accelerated to 11.28% in March 2020. This was 2.39% higher than the rate recorded in February 2020 (8.89%).
Accordingly, Inflation continued in March due to recent restriction of movement, thus causing consumers to spend primarily on essential Goods and Services which leads to the price hike in the Food Items and Pharmaceutical Products.
The Central Bank Governor highlighted that as a result of the Covid 19 pandemic; there is low expectations of future Income, particularly by workers in the gig economy that are engaged on a short-term contract basis, as well as the low-income earners in the informal economy.
The CPI Month – on – Month basis in Kaduna State shows that the State Index stands at 184.04% in March 2020. The Urban Index recorded 181.08% while the Rural index recorded 186.45% in March 2020 respectively.
The State CPI Month – on – Month Inflation rate was 1.56% in March 2020, up by 0.15% from 1.41% recorded in February 2020. The Urban Inflation Rate was 3.52% in March 2020, increased by 0.03% from 3.49% recorded in February 2020. The Rural Inflation Rate was 1.43% in March 2020, increase by 0.15% from 1.28% recorded in February 2020.
Click Download under Publications to view Reports from January to March 2020