Nigeria: Nigeria’s food inflation rises 12.12% in March

By Zuleihat Owuiye, Mamos Nigeria

Nigeria’s annual food inflation rate has increased to 12.2% in February, reversing a six-month downward trend. This rise is driven by higher prices of essential food items such as beans, yam flour, cassava tuber, and crayfish. The monthly food inflation rate also rose to 4.69% in February from -6.02% in March.

According to the National Bureau of Statistics (NBS), the headline inflation rate eased slightly to 15.06% in February from 15.10% in January. However, the month-on-month headline inflation rate increased to 2.01%, indicating a higher rate of price increase compared to March.

The increase in food inflation is attributed to rising prices of staple foods. Kogi State recorded the highest food inflation rate at 26.91%.