Index to Nigerian Newspapers

Food Inflation Worsens, Sets to Cross 40%

Food inflation is expected to cross 40 percent as consumer prices continued to rise, according to the official Consumer Price Index report from the National Bureau of Statistics, which also noted that overall national money supply has grown. The general inflation rate climbed to 34.6 percent in November 2024, driven primarily by higher prices for essential food items such as rice, corn, yams, and cooking oils. Economic experts and financial analysts attribute this continuous price increase to ongoing security problems affecting agriculture in northern states, high energy expenses, and increased transport and holiday shopping activities during the festive season.

ADEGBESAN, Elizabeth | 1.Inflation —Nigeria 2.Agricultural prices—Nigeria | Vanguard | Tuesday, December 17, 2024