Nigerians Face Increased Hardship as Food Inflation Surges to 40.53%

The hardship in Nigeria has deepened with the country’s food inflation rising to 40.53 percent in April, up from 40.01 percent in March 2024, according to the latest Consumer Price Index and Inflation report from the National Bureau of Statistics.

This increase represents a significant jump of 15.92 percent compared to 24.61 percent recorded last year.

The surge in food inflation on a year-on-year basis is attributed to the rising prices of various food items, including Millet flour, Garri, Bread, Wheat Flour prepacked, Semovita, Yam Tuber, Water Yam, cocoyam, Coconut Oil, Palm Kernel Oil, Vegetable Oil, Dried Fish Sardine, Catfish Dried, Mudfish Dried, Beef Head, Beef Feet, Liver, Frozen Chicken, Mongo, Banana, Grapefruit, Lipton Tea, Bournvita, and Milo.

This increase in food prices coincides with a rise in headline inflation, which reached 33.69 percent in the month under review.