Nigeria Food Inflation Hits 18.8% Amid Increase in Bread, Energy Prices

The National Bureau of Statistics (NBS) said on Monday Nigeria’s food inflation rose to 18.37 per cent in April amid increase in prices of staple food across the country,

The NBS in its inflation report said the food inflation rate jumped from 17.2per cent recorded in March, on the back of increases in the prices of bread and cereals, food products, potatoes, yam, wine, fish, meat, energy, and oils.

On a month-on-month basis, the food sub-index increased to 2 per cent in April 2022, up by 0.01 per cent points from 1.99 per cent recorded in March 2022.

Also, the average annual rate of change of Food sub-index for the twelve-month period ending April 2022 over the previous 12-month is 18.88 per cent, 0.34 per cent points from the average annual rate of change recorded in March 2022 (19.21 per cent).

The report said that “All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce, stood at 14.18 percent in April 2022, up by 1.44 per cent when compared with 12.74 percent recorded in April 2021.”

On a month-on-month basis, the core sub-index increased to 1.22 percent in April 2022, down by 0.24 per cent when compared with 0.98 per cent recorded in March 2022.

The NBS said the highest increases were recorded in prices of gas, liquid fuel, cleaning, repair and hire of clothing, clothing materials, other articles of clothing, and clothing accessories.

In April 2022, the NBS said food inflation on a year-on-year basis was highest in Kogi (22.79%), Kwara (21.56%), and Ebonyi (21.45%).

However, Sokoto (14.85%), Kaduna (15.55%) and Anambra (16.68%) recorded the slowest rise in year-on-year food inflation.