Tag
FOOD PRICES
The prices of major staple food items such as tomato, beans, garri and potato rose by over 30% in the month of May according to the National Bureau of Statistics (NBS) food price watch for the month.
CBN Governor underscored the nuanced nature of combating inflation, emphasizing that there is no “magic wand" solution.
The cost of living continues to escalate for rural Nigerians as the latest data from the National Bureau of Statistics (NBS) shows that Rural Consumer Price Index (CPI) for food has nearly doubled over the past three years.
Nigeria’s month-on-month food inflation declined in April for the second consecutive time following five months of consistent increase dating back to October 2023.
https://www.youtube.com/watch?v=VwKvlRnayps In the past year, the cost of food items, especially staple foods, has seen a significant surge,...
In the past one year, the price of food items especially staple foods has increased significantly. It has been adjudged that the increase in food prices is mainly due to depreciation of the naira, conflicts across the food producing regions of the country, high transportation costs and so on.
Across the local food markets in Lagos, there is a noticeable fall in the prices of foreign-produced foods or foods with foreign raw materials, while the prices of locally-produced foods continue to rise.
Major staple food prices across Nigeria increased by double figures month-on-month according to the NBS latest food price watch.
Prices of essentials in Nigeria are reaching all-time highs. If we were to plot some of these commodities on a price chart, with price on the Y axis and time on the X axis, we would probably see a parabolic expansion higher.
With food inflation at 35.41%, Nigerians grapple with the rising cost of food items and low purchasing power in the country.
The price of rice increased by 98.47% between January 2023 and January 2024 according to the latest NBS food price survey.
The National Bureau of Statistics (NBS) in its latest report reveals that Nigeria's inflation rate has climbed to a staggering 29.90 per cent in January 2024, up from 28.92 per cent the previous month.