Nigeria’s food inflation rate has recorded a decline, according to the latest data released by the National Bureau of Statistics (NBS).
In its most recent Consumer Price Index report, the statistics agency noted that food inflation moderated compared to previous months, indicating a slowdown in the rate at which food prices are increasing across the country.
Although food prices remain high, the new figures suggest that the pace of increase is easing — a development that could offer some relief to households grappling with sustained cost-of-living pressures.
The NBS attributed the moderation to improved supply of certain agricultural products and seasonal harvest effects. Analysts also point to relative stability in transportation costs in some regions as a contributing factor.
Over the past year, food inflation has been driven by multiple structural challenges, including insecurity in farming communities, high logistics costs, currency volatility, and disruptions in supply chains. These factors pushed staple food items to record highs, significantly affecting consumer purchasing power.
Economic observers say the reported decline is a positive signal, but caution that sustained improvement will depend on continued stability in agricultural production, transportation, and macroeconomic conditions.
While the figures reflect statistical moderation, market watchers will be monitoring whether the slowdown translates into tangible price relief for consumers in the coming months.
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