Tuesday, September 26, 2023

Nigeria’s food inflation worsened in November: NBS

The statistics office said food inflation soared to 18.30 percent last month, a 0.92 percent increase from 17.38 percent recorded in October.

• December 15, 2020
Food items
Food items used to illustrate the story

Nigeria’s inflation rate rose to 14.89 percent in November 2020, up from 14.23 percent in September, the National Bureau of Statistics (NBS) said in a monthly inflation report Tuesday.

The nation’s statistics office said food inflation soared to 18.30 percent last month, a 0.92 percent increase from 17.38 percent recorded in October.

The NBS’ Consumer Price Index report, which measures increase in prices of goods and services, disclosed that the cost of food items such as bread and cereals, fish, fruits, potatoes, yam and other tubers, meat and vegetables rose the highest last month.

Experts have predicted a continuous surge in Nigeria’s inflation rate, with the figures expected to rise as high as 15 percent before the end of 2020.

The Nigerian economy last month plunged into its second recession since President Muhammadu Buhari assumed office in 2015, recording a dive in gross domestic product for two consecutive quarters.

Central Bank Governor Godwin Emefiele has, however, expressed optimism that the country could emerge from the economic meltdown by the first quarter of 2021.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Katsina State


Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Ballot box


Group tasks INEC on credible Imo guber poll

CTYP national coordinator, Chukwuemeka Emmanuel, said this at a news conference on Tuesday in Abuja.


Group urges Niger Delta states to domesticate ministry of marine and blue economy

He said public-private partnership was the best approach to reviving the moribund seaports, saying the time to take those steps was now.

Governor Caleb Mutfwtang


We’ll ramp up efforts to curb child trafficking: Plateau Govt.

He said that the council resolved to strengthen relevant government agencies to perform their constitutional duties of checking the menace.

Tajudeen Abbas

Heading 1

Speaker Abbas begs labour unions not to embark on strike

“We must, therefore, do everything within our powers to champion causes towards addressing the yearnings of our people,” he said.

Godswill Akpabio


Akpabio calls for unity among senators to improve living conditions of Nigerians

“As it is through such discourse that we can achieve the best outcomes for all Nigerian citizens,’’ Mr Akpabio said.

Flood in Kwara Credit: Daily post


NEMA distributes relief materials to 18,904 households affected by flood in Anambra

The items distributed were sewing machines, grinding machines, water pump machines, cooking stoves, cooking pots, mattresses, mosquito nets, mats, soap, buckets, and blankets.