WATCH THE VIDEO HERE As Christmas approaches, food inflation in Nigeria continues to rise sharply, with the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS) showing that Abuja and 19 states recorded food inflation rates above 40% in November 2024. The report highlights significant increases in food prices across several states, further aggravating the cost-of-living crisis for millions of Nigerians. According to the latest NBS report, food inflation has seen a sharp rise, reaching 39.93% in November 2024, up from 32.84% in the same period last year. Prices for staple foods such as yam, rice, maize, and palm oil have surged, contributing to the increase in food inflation. Other items such as guinea corn, millet, and meat have also seen notable price hikes. On a month-on-month basis, food inflation rose by 2.98%, slightly up from 2.94% in October. This increase is attributed to higher prices for items such as fish, rice, dairy products, and meat. The twelve-month average food inflation rate for the period ending November 2024 stands at 38.67%, marking an 11.58%-point rise from the previous year’s 27.09%. Across these states, food remains the dominant inflation driver, particularly in Sokoto, Yobe, and Kebbi. Rising transportation costs, insecurity, and supply chain disruptions continue to exacerbate Nigeria’s inflation crisis, leaving households vulnerable. With the festive season approaching, the rising cost of food remains a major concern for households across the country.
Abuja, 19 states face over 40% food inflation rate as Christmas nears
