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NBS Report Identifies Nigerian States With Highest Food Prices Amid Rising Hardship
NBS Report Identifies Nigerian States With Highest Food Prices Amid Rising Hardship
Amidst mounting hardship, the latest National Bureau of Statistics’ April Consumer Price Index and Inflation report have spotlighted three Nigerian states grappling with the highest food prices.....KINDLY READ THE FULL STORY HERE▶
Kogi, Kwara, and Ondo have emerged as the states with the highest food prices in Nigeria, with Kogi State leading with a staggering food inflation rate of 48.62 percent, followed closely by Kwara at 46.73 percent and Ondo at 45.87 percent on a year-on-year basis.
Conversely, Adamawa (33.61 percent), Bauchi (33.85 percent), and Nasarawa (34.03 percent) reported the least increase in food inflation.
On a month-to-month basis, Lagos, Edo, and Yobe have recorded the highest food prices among Nigerian states, with Lagos experiencing a 4.74 percent increase, Edo at 4.06 percent, and Yobe at 3.99 percent.
This trend coincides with April’s headline inflation and food inflation surging to 33.69 percent and 40.53 percent, respectively, reflecting the country’s ongoing economic challenges.
The latest consumer price index and inflation report released by the NBS indicate a persistent rise in inflation, reaching 33.69 percent in April compared to 33.20 percent in March.
This surge underscores the prevailing economic hardships in Nigeria, with inflation steadily increasing since the inception of President Bola Ahmed Tinubu’s administration in May last year, starting at 22.41 percent in May 2023 and escalating to 33.69 percent in April this year.
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