Business

Top 10 food items with highest price increase in January 2024

With food inflation at 35.41%, Nigerians grapple with the rising cost of food items and low purchasing power in the country.


The most recent National Bureau of Statistics (NBS) reported a significant surge in the food inflation rate for January 2024, marking a substantial 11.10%-point increase from the 24.32% observed in January 2023, highlighting a pronounced rise in the cost of food items.


The key drivers of this inflationary pressure include notable price hikes in essential food commodities such as bread and cereals, potatoes, yams and other tubers, oils and fats, fish, meat, and fruits, as well as coffee, tea, and cocoa.