Inflation Hits Nigerians Hard, as NBS Reports 28.92% Rise in Food, Energy Prices in Dec
WALE EDUN
By Our Reporter
Nigerians are currently suffocating in hardship as a result of increasing food and energy prices in the country.
According to the National Bureau of Statistics (NBS), the Consumer Price Index (CPI) increased to 28.92 per cent in December, as against 28.20 per cent in November.
The NBS report which was released on Monday attributed the 0.72 per cent rise in the headline index to increases in food and commodity prices, including energy.
The worse situation is reported to be in Lagos, Rivers, Kogi, Bayelsa, Bauchi, Delta and Sokoto states.
The CPI figures for the month of December showed that food inflation increased by 10.18 percent to 33.93 per cent year-on-year compared to 23.75 per cent in December 2022.
Our Correspondent gathered that traders are lamenting as a result of high prices of goods which are in turn scaring consumers.
Some food items, including gari, beans, rice, yam , fish, meat, fruit, milk, cheese , egg, among others are said to have risen in prices, in what have in turn affected the budgets of consumers.
The situation is even a big threat to the traders in the case of those who sell perishable items that may suffer damage before they are sold.
Nigerians are currently suffocating in hardship as a result of increasing food and energy prices in the country.
According to the National Bureau of Statistics (NBS), the Consumer Price Index (CPI) increased to 28.92 per cent in December, as against 28.20 per cent in November.
The NBS report which was released on Monday attributed the 0.72 per cent rise in the headline index to increases in food and commodity prices, including energy.
The worse situation is reported to be in Lagos, Rivers, Kogi, Bayelsa, Bauchi, Delta and Sokoto states.
The CPI figures for the month of December showed that food inflation increased by 10.18 percent to 33.93 per cent year-on-year compared to 23.75 per cent in December 2022.
Our Correspondent gathered that traders are lamenting as a result of high prices of goods which are in turn scaring consumers.
Some food items, including gari, beans, rice, yam , fish, meat, fruit, milk, cheese , egg, among others are said to have risen in prices, in what have in turn affected the budgets of consumers.
The situation is even a big threat to the traders in the case of those who sell perishable items that may suffer damage before they are sold.
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