The Pentad - Urban Retail Price Tracker - June 2019
- Retail prices ended the month of May on a higher note with our Urban Retail Price Tracker – the PURP index – recording an increase of 0.53% MoM to 112.6 pts (vs 0.20% MoM in April). Price increases were more evident in the consumers, commodities and cement baskets.
- In the consumer basket, average prices inched higher by 1.69% MoM, erasing last month’s decline. The uptick was driven by increases in the price of Milo (+7.88% MoM), Blueband (+4.17% MoM), Dangote Sugar (+1.27% MoM and Dettol soap (+22.77%). These outweighed declines in Maggi (-7.69%), Omo (-6.58%), Dangote salt (-11%) and other commodities.
- Elsewhere, prices in the brewery basket moderated by -1.39% MoM following declines in the prices of Star (-0.95% MoM), Malta Guinness (-3.45% MoM), Guinness (-1.18% MoM) and Trophy (-6.80%) muting uptick in Gulder (+2.86%).
- Prices in the commodities basket increased at a faster in the month of May 0.83% MoM when compared to the prior month, (April: +0.21% MoM). The uptick mirrors an expansion in the prices of Rice (+1.07%) and Crude palm oil (+1.79%). This can be alluded to the increase in demand for food products ahead of Ramadan. However, Vegetable oil price remained flat during the period under review.
- Prices of cooking gas and lubricants remained flat, hence leaving the Oil & Gas sector unchanged.
- In the month of May, Cement prices remained flat with, Wholesale and Retail prices printing at N2,550 and N2,700 respectively.
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