Overview
- Spending was still 35% higher than a year earlier, reflecting sustained pressure from earlier tariff adjustments.
- Transport drove the interannual rise with a 56% increase and accounts for about 39% of the basket.
- Real subsidies for water, energy and transport fell 57% year-on-year to August, with energy subsidies down 63%.
- On average households cover about half of service costs through tariffs, with August cost coverage in electricity at N1 81%, N2 26%, N3 39% and in gas at N1 68%, N2 18%, N3 22%.
- Since December 2023, the AMBA services basket has climbed 578% versus a 158% increase in the general price index.