Price Of Kerosene Continues To Go Up - NBS
In Nigeria these days it seems it is cheaper to maintain a car than to own a kerosene stove.
The average price per litre paid by consumers for household Kerosene increased by 8.01% to 303.29 Naira in May from 280.80 Naira in April.
Regardless of the so called hidden incentives, kerosene users paid higher than what they paid last year and even higher than what they paid for a litre of kerosene last month.
This is according to the consumer price inflation released by the national of bureau of statistics on Thursday.
The data showed that States with the highest average price per litre of kerosene were Anambra at 334.52 Naira, Kwara at 323.81 Naira and Bauchi where the commodity sells for 321.67 Naira per litre.
Some States like Osun were luckier with lowest average price per litre of kerosene at 273.96 Naira, Oyo 271.15 Naira and Sokoto 261.90 Naira.
According to NBS, the prices of consumer goods in general are going down.
But here is the catch, you cannot see the difference in the market. It can only be seen when compared with figures recorded in 2016.
And this is the 4th time this is happening.
Inflation dropped to 16.25% in May from 17.24% in April.
The yearly inflation figures started dropping since February, after it continued to rise for 15 consecutive months.
According to the NBS reports, on a month-on-month basis, the measure of the total inflation increased by 1.88% in May 2017, 0.28% points higher than the rate of 1.60% recorded in April 2017.
More so, when it comes to things that really matter to the everyday Nigerians – food on a month-on-month basis, the figures are not looking good, prices are not coming down.
For instance, when you compare the prices of 1kg of tomato between last year and this year. It dropped by 13.04% but increased month-on-month by 18.90 % to 339.72 Naira in May 2017 from 285.72 Naira in April 2017.