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Data & Statistics

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Inflation Rates (Per cent)
Month September October November
All Items (Year on Change) 18.40 23.60 21.30
All Items (12 Months Avg. Change) 10.70 12.30 13.00
Food (Year on Change)/1 6.20 13.20 12.40
Food (12 Months Avg. Change)/1 4.00 5.00 5.40
All Items Less Farm Produce (Year on Change)/2 36.30 40.70 35.70
All Items Less Farm Produce (12 Months Avg. Change)/2 22.20 24.60 26.00
All Items Less Farm Produce and Energy (Year on Change)/3 22.50 27.80 27.80
All Items Less Farm Produce and Energy (12 Months Avg. Change)/3 15.80 17.40 18.90
New base period for Consumer Price Indices is November 2009
Year on change in per cent is year-on-year or annualized inflation rate
Computation of the 12-month average change is based on 12-month moving average
/1 Food inflation rate is also called the non-core inflation
/2 All items less farm produce is otherwise known as core inflation
/3 All items less farm produce and energy is another type of core inflation
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Facts : 1/16/2006
The Cowry:The Cowry has, for centuries, served our people as an important form of currency. In 1860 the following system was in use: 40 Cowries formed a "String"; 50 Strings made a "head" and 10 heads comprised a "bag". In Lagos in 1865 one bag of 20,000 shells was exchanged for one or two English Pounds.
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