Nigeria records the largest rise in food inflation since 2016

From 18.30 percent in November 2020 to 19.56 percent in December, Nigeria’s food inflation rose by 1.26 percent.

This is according to the Consumer Price Index/Inflation Report for December 2020 published on Friday, January 15, 2021 by the National Bureau of Statistics, NBS.

This is the biggest rise in food inflation since May 2016, when it rose to 14.86 percent from 13.19 percent in April of that year.

The rise in food inflation was due to higher prices for bread and cereals, potatoes, yam and other tubers, meat, fruit, vegetables, fish, oils and fats, the NBS said.

The All Items Index, which calculates inflation, increased from 14.87 percent in November to 15.75 percent in December, according to the survey.

This reflects a 0.86 percentage-point rise.