Nigeria's food inflation increased to 37.92 per cent in February, up from 35.41 per cent in January 2024, amid economic hardship. The National Bureau of Statistics, NBS, disclosed this in its latest consumer price index and inflation report. The figure represents a 2.51 per cent month-on-month increase in food inflation.
Nigeria's food inflation increased to 37.92 per cent in February, up from 35.41 per cent in January 2024, amid economic hardship. The National Bureau of Statistics, NBS, disclosed this in its latest consumer price index and inflation report. The figure represents a 2.51 per cent month-on-month increase in food inflation.
On a year-on-year basis, food inflation rose by 13.57 per cent compared to the 24.35 per cent recorded in February 2023. Accordingly, the food price increase was caused by the month-on-month rise in the price of bread and cereals, potatoes, yams and other tubers, as well as fish. Earlier, DAILY POST reported that headline inflation rose to 31.70 per cent in February from 29.90 per cent recorded in January 2024.
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