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Mon, 30 Sep 2024
Source: africa.businessinsider.com
Nigeria has experienced unprecedented food inflation in the past year, with staple items like beans, rice, bread, and eggs seeing price increases exceeding 100%.
The price of 1kg of loose local rice surged by 148.41%, from N737.11 in August 2023 to N1,831.05 in August 2024.
Beans saw a staggering 271.55% rise, while bread prices increased by 113.16%. Egg prices rose by 121.92% year-on-year.
Yam prices jumped by 188.31%, although some items like tomatoes saw a monthly decrease.
Overall, Nigerian consumers are struggling with significantly inflated food costs.
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Source: africa.businessinsider.com