Food Inflation Worsens, Sets To Cross 40

There are indications that food inflation will exceed the 40 per cent mark this month as November inflation shows a further rise in consumer prices.

Economy experts have cited structural constraints on food production in the northern part of the country as well as the festive season demand pressures and increased transportation activities as main drivers of current inflationary pressure.

The National Bureau of Statistics, NBS, in its Consumer Price Index, CPI, report for November 2024 released yesterday said food inflation rose by 0.77 basis points to 39.93 per cent from 39.16 per cent in October 2024 due to an increase in the prices of yam, water yam, coco yam, guinea corn, maize grains, rice among others.