Prices of food items have maintained a steady increase as Nigeria’s food inflation figures recorded an upward move from 19.50 per cent recorded in May to 20.60 per cent in June.
Figures by a National Bureau of Statistics (NBS) report titled “Consumer Price Index May 2022” show that the composite food index rose to 20.60 per cent in June 2022 on a year-on-year basis; the rate of changes in average price level declined by 1.23 per cent compared to 21.83 per cent in June 2021.
The report further showed that the rate of changes in food prices compared to the same period last year was higher due to higher food prices volatility caused by COVID 19.
This rise in the food index was caused by increases in prices of bread and cereals, food products, potatoes, yam, and other tubers, meat, fish, oil and fat, and wine.
