The National Bureau of Statistics, NBS, says Cross River State recorded the highest average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas, used predominantly for cooking.
The report as contained in NBS’ State Profile Analysis for August, 2023 further said, cooking gas costs an average of N10,172.8 in the state, followed only by Ogun and Nasarawa states, with prices at N9,963.64 and N9,883.37 respectively.
Again, a zone by zone analysis as contained in the same report showed that Cross River gas prices played a key role in making the South-South of Nigeria record the highest average retail price for refilling a 12.5kg gas cylinder, followed by the South West of Nigeria.
Furthermore, available NBS data shows that from 2021, there was a slow rise in food inflation in CRS with figures hitting 4.65%, making the state fall within the top 13 states experiencing food inflation.
“In August 2023, the headline inflation rate increased to 25.80% relative to the July 2023 headline inflation rate which was 24.08%. Looking at the movement, the August 2023 headline inflation rate shows an increase of 1.72% points when compared to the July 2023 headline inflation rate. On a year-on-year basis, the headline inflation rate was 5.27% points higher compared to the rate recorded in August 2022, which was 20.52%. This shows that the headline inflation rate (year-on-year basis) increased in August 2023 when compared to the same month in the preceding year (i.e., August 2022)”, the report said.
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