It is More Expensive to Buy Food In Kogi, Jigawa Than Lagos as Food Prices Increase Again in October

• Nigerian inflation rate figure dropped again in October to the lowest level since the end of December 2020
• Despite the general drop in inflation number, NBS data revealed the prices of food items in the country continue to rise
• The administration of President Muhammdu Buhari has consistently promised efforts are being made to address the rising cost of food

The National Bureau of Statistics has revealed that the prices of food items in the country rose again in October 2021, despite a 7th consecutive drop in inflation rate figure to 15.99%

NBS revealed this in its latest consumer price index report published on its website on Monday, 15 November 2021.

In fact, the October inflation rate figure of 15.99% is the lowest figure in the last 10 months. Since the start of 2021(January to October), the Nigerian Inflation figure has averaged 17.28%.

Food Inflation

Similar to Legit.ng food price tracking reports, the National Bureau of Statistics report showed that in October Nigerians were forced to budget more to buy food compared to September 2021.

According to NBS food inflation rose by 18.34 percent in October 2021 compared to 17.38 percent in October 2020.

While On a month-on-month basis, the food index rose by 0.91% compared to 1.26% increase recorded in September 2021.

NBS disclosed that the rise in food inflation figure was caused by increases in prices of food products: coffee, tea and cocoa, milk, cheese and eggs, bread and cereals, vegetables and potatoes, yam, and other tubers.

Food Inflation by states

NBS report showed that in October, food inflation on a year-on-year basis was highest in Kogi (23.69 percent), Gombe (23.29 percent), and Jigawa (21.91 percent).

While Edo (13.16 percent), Rivers (14.46 percent), and Adamawa (15.42 percent) recorded the slowest rise in year-on-year food inflation.

On a month-on-month basis, however, in October food inflation was highest in Kebbi (2.29 percent), Yobe (2.23 percent), and Akwa Ibom (2.16 percent), while Kano, Kogi, Osun, and Oyo recorded negative inflation.

Buhari finally reveals why prices of foodstuffs are on increase in Nigeria

In a related story President Muhammdu Buhari has explained why the prices of foodstuff in the country are on the increase despite FG's investment.

The president said his administration is working hard to address food inflation occasioned by the COVID-19 pandemic.

Buhari, however, reassured Nigerians that his administration had taken measures to address the nation’s security challenges.

Source: Legit.ng