More hardship for Nigerians as food inflation increases to 40.53%

Hardship in Nigeria has worsened as the country’s food inflation increased to 40.53 per cent in April from 40.01 per cent in March 2024.

The National Bureau of Statistics disclosed this in its latest Consumer Price Index and Inflation report.

The report stated that April’s food inflation represents a 15.92 per cent increase compared to 24.61 per cent last year.

Food inflation on a year-on-year basis was caused by increases in prices of the following items including Millet flour, Garri, Bread, Wheat Flour prepacked, Semovita (which are under Bread and Cereals Class), Yam Tuber, Water Yam, cocoyam (under Potatoes, Yam and other Tubers Class), Coconut Oil, Palm Kernel Oil, Vegetable Oil, etc (under Oil and fat), Dried Fish Sardine, Catfish Dried, Mudfish Dried (under Fish class), Beef Head, Beef Feet, Liver, Frozen Chicken (under Meat class), Mongo, Banana, Grapefruit (under Fruit Class), Lipton Tea, Bournvita, Milo (under Coffee, Tea and Cocoa Class).

The development comes as headline inflation surged to 33.69 per cent in the month under review.

Disclaimer: No copyright infringement intended. All rights and credits reserved to respective owner(s).

Add Comment

Click here to post a comment

Madame Insights Wellness Videos