…North records highest
Nigerias food inflation rate surged to 39.93% in November 2024 on year-on-year, a 7.08 percentage point increase, from the 32.84% recorded in November 2023, according to data from the National Bureau of Statistics, (NBS).
The spike in food inflation was driven by significant price increases across various food categories such as tubers (yam, water yam, and coco yam); bread and cereals (guinea corn, maize, and rice); oils and fats (palm oil and vegetable oil), and tobacco (beer and pinto).
On a month-on-month basis, the national food inflation rate in November stood at 2.98 percent, an increase of 0.05 percentage points from the 2.94 percent recorded in October.
Key drivers included higher prices for items such as dried fish, rice, yam flour, millet, fresh milk, and frozen chicken.
The analysis showed that food inflation on a year-on-year basis was highest in Sokoto, at 51.30%, followed by Yobe, at 49.69 percent, and Edo, at 47.77%. Kwara recorded 31.39%, Kogi, 32.95%, while Rivers recorded 33.27%, the slowest.
