The increasing food inflation in Nigeria has continued to be a cause for concern, with the country witnessing significant fluctuations in the prices of essential food items over the span of just one year, from August 2022 to August 2023.
According to data from the National Bureau of Statistics, a notable surge in prices has been observed across various food categories. Among these, maize grain, both white and yellow, has experienced a staggering year-on-year increase of 93.04% and 90.16%, respectively. This sharp rise raises concerns about the impact on staple foods, given the integral role maize plays in the Nigerian diet.
Another key item that has seen a substantial surge in prices is evaporated canned milk, Carnation 170g. The price skyrocketed by 81.69% within the one-year period. Unripe plantains rose by 78.61%, while ripe plantains saw a surge of 77.13%.
Other staples, like rice and gari white, have also witnessed substantial increases. Local rice sold loose experienced a year-on-year increase of 62.68%, while high-quality imported rice saw a surge of 46.34%. Gari (white), sold loose, recorded a notable increase of 49.16%.
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