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NBA Says Inflation Hits 17.6 Percent In August

-To Begin Multiple Indication Cluster Survey, Monday

The National Bureau of Statistics (NBS) says Consumer Price Index (CPI) has increased to 17.6 per cent (year-on-year) in August from 17.1 per cent recorded in July.

A report released by the NBS in Abuja on Friday stated that the CPI, which measured inflation, was 0.5 per cent points higher from the points recorded in July.

The report noted that increases were recorded in all Classification of Individual Consumption by Purpose divisions, which contributed to the headline index reflecting higher prices across the board.

“The major divisions responsible for accelerating the pace of the increase in the headline index were Housing, Water, Electricity, Gas and Other Fuel, Education and Transportation Services.

“The Food Index rose by 16.4 per cent (year-on-year) in August, up by 0.6 per cent points from 15.8 per cent recorded in July.

“During the month, all the major food groups contributed to the increase in the Food sub-index.

“ However, the pace of increase was slowed by Fruits, Potatoes, Yam and other Tubers as well as Oils and Fats, which reported slower increases during the month,’’ it stated.

The report also stated that imported foods as reflected by the Imported Food Sub-index, increased by 0.2 per cent points from July to 20.7 per cent in August.

“Price movements recorded by the All Items less farm produce or Core sub-index increased by 17.2 per cent (year-on-year) in August, and up by 0.3 percentage points from rates recorded in July (16.9 per cent).

“During the month, the highest increases were seen in Solid fuels, Vehicles parts Books and Stationery and Clothing and other articles of clothing.’’

On a month-on-month basis, the report stated that the headline index rose by 1.0 per cent in August, marginally lower than the 1.3 per cent recorded in July.

“This is the third consecutive month of a slower pace of increase in the Headline Index,’’ it stated.

In addition, the report stated that Urban and Rural prices continued to rise in the month of August.

“The Urban index increased by 19.3 per cent (year-on-year) in August from 18.9 per cent recorded in July, while the Rural index increased by 16.1 per cent in August from 15.5 per cent in July,’’ it added.

Meanwhile, the Bureau said it will begin the Multiple Indicator Cluster Survey (MICS) on Monday.

MICS is a household based survey developed by UNICEF and designed to assess the situation of children and women in the areas of health, education, child protection and HIV/AIDS worldwide.

This is contained in a statement by the Statistician-General, Dr Yemi Kale, on Friday in Abuja.

Kale said that NBS would send enumerators to the field for 92 days, starting from Sept. 19 to administer questionnaires on the selected households for the survey.

He said that MICS 5 (fifth series) would cover all the states of the federation and FCT with 960 selected households to be interviewed in each state.

“MICS can be used as data collection tool in monitoring progress of national goals and global commitments aimed at promoting the welfare of children, including Sustainable development Goals (SDGs).

“In Nigeria, this MICS is the fifth of a series which started in 1995 and has been extended to include questionnaire for individual men and modules such as water quality test.

“It has extended to tobacco and alcohol use, life satisfaction, access to mass media and use of Information Communication Technology.’’

According to him, MICS 5 is unique in many ways because it is the first time Computer Assisted Personal Interview (CAPI) is being used to collect data on MICS.

In addition, he said that National Immunisation Coverage Survey (NICS) would be combined with MICS 5, making one National Survey at a time.

The statistician-general, however, said the objectives of the survey included providing up-to-date information on the situation of children and women in Nigeria.

He said the survey would strengthen national statistical capacity by focusing on data gathering, quality of survey information, statistical tracking and analysis.

“It will contribute to the improvement of data and monitoring systems in Nigeria and strengthen technical expertise in the design, implementation and analysis of such systems.

“It will also serve as baseline for Sustainable Development Goals (SDG) agenda and provide statistics to complement and assess the quality of data from recent national surveys.

“The recent national survey such as Nigerian General Household Panel Survey (NGHPS) and National Demographic and Health Survey (NDHS) conducted by National Population Commission (NPopC),’’ Kale said.

According to him, NBS is the implementing agency of MICS 5 with technical and financial support from UNICEF.

Other major stakeholders in the implementation of MICS 5 include Ministry of Budget and National Planning, NPopC, Federal Ministries of Health, Education, Agriculture and Water Resources.




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