Nigeria’s galloping food inflation eased to 39.84 per cent in December 2024 from the 39.93 per cent recorded in November, according to the Consumer Price Index (CPI) data released by the National Bureau of Statistics (NBS).
The NBS also reports that December headline inflation rose marginally by 0.20 per cent to 34.80 per cent from 34.60 per cent in November.
However, the NBS data shows that the average annual rate of food inflation for the 12 months ending December 2024 over the previous 12-month average was 39.12 per cent which was 11.16 per cent points higher compared with the average annual rate of change recorded in December 2023 which was 27.96 per cent.
Marginal as this drop may be, it is a sign of hope for many families that have been looking forward to a time when their megre income can buy them three square meals a day.
Nigeria has experienced a persistent rise in food inflation…
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