Nigeria’s food inflation rises to 33.93% in December 2023

Nigeria’s food inflation rose to 33.93 per cent in December 2023, from 32.83 per cent recorded in November 2023.The National Bureau of Statistics, NBS, disclosed this in its Consumer Price Index, CPI, report for December 2023, released on Monday.

This represents a 2.72 per cent increase, compared to the figure recorded in November.

The food inflation on a Month-on-Month basis was caused by a rise in the average prices of Oil and fat, Meat, Bread and Cereals, Potatoes, Yam & Other Tubers, Fish and Milk, as well as Cheese and Egg.

Some reports show that Nigeria’s headline inflation rose to 28.92 per cent in December for the twelfth consecutive time in 2023.