As Nigerians celebrate the festive season, surging inflation rates have significantly impacted household expenses, with food and non-alcoholic beverages experiencing a near 40% increase in 2024.
This is according to an analysis of data from the National Bureau of Statistics (NBS).
The Consumer Price Index (CPI) report highlights steep price hikes across key categories, highlighting the financial strain faced by many citizens.
The December holiday period typically brings increased consumption, but 2024’s inflationary pressures are expected to dampen celebrations for many families.