Nigeria Records Highest Food Inflation Since 2016

Nigeria Records Highest Food Inflation Since 2016

Nigeria recorded its highest food inflation in four years. This is according to the December 2020 consumer price index/inflation report by the National Bureau of Statistics, which was released on Friday.

The inflation rate surged by 1.26 percent on a year-on-year basis from 18.30 percent in November 2020 to 19.56 percent in December.

Findings by BizWatchNigeria show that this is the biggest rise in food inflation since May 2016 when it surged from 13.19 percent in April of that year to 14.86 percent.

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