World Food Day: Nigeria’s Food Inflation Rises to 30.64%, Inflation at 26.72%

Today (Monday) October 16 is the 2023 World Food Day. But for Nigerians, it is not a day which calls for celebration, as most citizens can’t afford the prices of basic food items.

This was further confirmed by the National Bureau of Statistics, which today published the September 2023 Inflation Report which has put food inflation at 30.64%, while inflation was measured at 26.72%.

The Consumer Price Index, which measures the changes in the prices of goods and services, rose from 25.80% in August 2023 with an increase of 0.92% points.

Meanwhile, on a year-on-year basis, the headline inflation rate was 5.94% points higher compared to the rate recorded in September 2022, which was 20.77%.

You can read the full report here.

In September 2023, the headline inflation rate increased to 26.72% relative to the August 2023 headline inflation rate which was 25.80%.
Food Inflation in September 2023 was 30.64%.
Read the full CPI report for September 2023 here: https://t.co/tjxnG8I524 pic.twitter.com/ghyjKyh3Rs

— NBS Nigeria (@NBS_Nigeria) October 16, 2023