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Consumer Price Index rises to 1.2% amid consumers complaints

The Consumer Price Index (CPI) in June, rose to 1.2 per cent as against the 0.5 per cent increase recorded in May. This was contained in the National Bureau of Statistics’ (NBS), publication “Statistical News,’’ on Wednesday in Abuja.

The NBS statistics showed that all items index rose by 2.9 per cent in the second quarter of 2010, as against the 1.8 per cent rise recorded in the first quarter of 2010.

It also showed that the monthly price index for urban dwellers rose by 0.5 per cent in June, while the corresponding rural index recorded 1.6 per cent increase when compared with the preceding month of May.

The statistics showed that the yearly price index rose by 10.3 per cent in June, lower than the 11.0 per cent recorded in the previous month of May.

A breakdown showed the average monthly food prices rising by 2.0 per cent in June as against 0.3 per cent recorded in May, while the average annual rise of the index was 13.2 per cent for the 12-month period that ended in June.

NBS attributed the rise in the index of food to the slight increase in the prices of some food items such as yam, potatoes, meat, fruits, fresh tomatoes, non-alcoholic and alcoholic beverages. The statistics also showed that all items, excluding the prices of agricultural products, rose by 0.2 per cent in June as against 0.9 per cent recorded in May.

It said the increase was due to price rise observed with some pharmaceutical products and household equipment. Most consumables, including food items have increased in major markets in the Abuja metropolis. In markets such as Wuse 2, Garki and Utako, prices of food items such as tomatoes, onions, pepper and other condiments are still very high. A survey showed that a small basket of tomatoes that sold for N900 in May was sold for N1,000 in June and now selling for N1,200.

A small basket of orange that sold for N300 in May and June, now sells for between N350 and N400. A consumer, Mr Tony Achike, condemned the development, expressing hope that the rains would bring some succour and bring the prices down.

“The common man is actually finding it difficult to buy food items in the markets because most of the items are really expensive,’’ he said. Mrs Toyin Dada, another consumer, complained about the rise in the price of garri, which has gone out of the reach of the “common man’’.


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