The National Bureau of Statistics (NBS) has reported that Nigeria’s food inflation climbed to 33.93% in December 2023, marking a notable increase from the 32.83% recorded in November of the same year.
The Consumer Price Index (CPI) report for December, released by the NBS on Monday, revealed a 2.72% rise in food inflation on a month-on-month basis.
This increase is linked to the surge in the average prices of essential food items, including oil and fat, meat, bread and cereals, potatoes, yam, and other tubers, fish, and milk, as well as cheese and eggs.
The report highlighted a 10.18% increment in food inflation compared to the rate recorded in the corresponding period in 2022.
