bra Inflation Index (bII) is the first private monthly consumer price index which is used to measure the price movement in the country. It is a chained expenditure weighted index that composed of the market basket of nine major categories: (1) Food and Beverages; (2) Housing and Household Goods & Services; (3) Clothing and Footwear; (4) Transportation and Energy (5) Medical Care; (6) Recreation and Entertainment; (7) Education (8) Communication and (9) Utilities, Other Goods and Services. bra Inflation Index (bII) covers the six geo political zones include Lagos and Abuja.
In order to minimize the ambiguity that may be introduced from these two locations, we developed an index lagosIndex and abujaIndex which captures the price movement in both commercial centres. It is built on efficient methodological framework that reduces period bias in the aggregation from specific items to the categories.
The monthly expenditure analysis is a component part of bra Inflation Index, producing a robust insight into the dynamics of average Nigerian household's consumption expenditure monthly.
The data series provides a good evaluation of consumer welfare and hence poverty level of in the economy.