Nigeria inflation hits two-year high — NBS
A food market in Ibafo in Nigeria’s Ogun State. The effects of COVID-19 on food systems will be keenly felt in poorer countries. [Photo - The Conversation]Nigeria’s inflation rose in April to its highest in two years, amidst a coronavirus pandemic that has ravaged global economy.
The bureau’s Consumer Price Index report said inflation rose to 12.34 per cent in April, when compared with April 2019, and up from 0.08 percent in March 2020. The closure affected the availability of rice, vegetable oil, frozen food and other staples, causing prices of the commodities to be on the increase.Nigerian states, including Abuja and commercial centre Lagos, have been on a lockdown for close to two months now.
This rise in the food index was caused by increases in prices of potatoes, yam and other tubers, bread and cereals, fish, oils and fats, meat, fruits and vegetables.In April 2020, all-item inflation on a year-on-year basis was highest in Bauchi, Sokoto, and Plateau while Edo, Abuja, and Kwara recorded the slowest rise.
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