See Top 10 Most Expensive Nigerian States To Live In As Of May 2024

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Expensive Nigerian States
See Top 10 Most Expensive Nigerian States To Live In As Of May 2024

See Top 10 Most Expensive Nigerian States To Live In As Of May 2024—-Living costs in Nigeria are continuing to climb, with the Consumer Price Index (CPI) for May 2024 indicating rising inflation rates affecting everyday life across various states.

According to the National Bureau of Statistics (NBS), Nigeria’s inflation rate hit 33.95% in May 2024. While food inflation stands at 40.66%, it is no longer the main factor driving overall inflation. Here’s a look at the 10 most expensive states to live in Nigeria based on the latest all-item inflation rates:

10. Kwara
Kwara moved down from sixth place in April, experiencing a decrease in both all-item and food inflation rates. The all-item inflation dropped by 1.33 percentage points to 36.19%, and food inflation fell by 2.07 points to 44.66%. This indicates that non-food items primarily drove the cost of living in Kwara.

9. Kebbi
Kebbi saw a slight increase in all-item inflation by 0.23 points to 36.20%, while food inflation marginally decreased by 0.09 points to 38.50%. The slight rise in all-item inflation suggests increases in non-food item prices.

8. Bayelsa
Bayelsa experienced significant increases in both all-item and food inflation rates. The all-item inflation rose by 2.66 points to 36.72%, and food inflation increased by 1.75 points to 42.29%. Both food and non-food items contributed to the inflation in Bayelsa.

7. Abia
Abia moved up from tenth place, with a slight increase in the all-item inflation rate by 0.25 points to 36.75%. However, food inflation decreased by 0.55 points to 44.01%. The increase in non-food items drove the overall inflation.

6. Jigawa
Jigawa saw minimal changes, with the all-item inflation rate slightly increasing by 0.03 points to 37.34% and food inflation rising by 0.09 points to 42.57%. The balanced inflation in Jigawa indicates equal contributions from both food and non-food items.

5. Lagos
Lagos, Nigeria’s commercial hub, experienced small increases in both all-item and food inflation rates. The all-item inflation rose by 0.24 points to 37.39%, and food inflation increased by 0.04 points to 43.03%. Non-food items slightly influenced the inflationary pressure in Lagos.

4. Osun
Osun climbed from eighth place, with the all-item inflation rate increasing by 0.28 points to 37.45%. The food inflation rate decreased by 1.05 points to 44.57%. Non-food items primarily drove the inflation in Osun.

3. Oyo
Oyo maintained its third position with a decrease in the all-item inflation rate by 0.65 points to 37.72% and a slight drop in food inflation by 0.27 points to 43.26%. The reduction in the cost of living was driven more by non-food items.

2. Kogi
Kogi, formerly the most expensive state, saw a decrease in both all-item and food inflation rates. The all-item rate fell by 1.46 points to 39.38%, and food inflation dropped by 2.31 points to 46.31%. The decline in food prices primarily drove the overall reduction in inflation.

1. Bauchi
For the first time, Bauchi became the most expensive state, with the highest increase in all-item inflation by 2.39 points to 42.30%. The food inflation rate also increased by 0.50 points to 34.35%. The significant rise in non-food item prices led to the high inflationary pressure in Bauchi.

(NAIRAMETRICS)

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