Food inflation is particulary high, the National Bureau of Statistics said
Audio By Carbonatix
Inflation in Nigeria has risen to its highest rate in more than 27 years.
The National Bureau of Statistics said the rate that prices were increasing over the year was up for the 12th straight month. On average, the price of goods has risen by just under 29% compared to a year ago.
The statistics office said the rise in the cost of basic foodstuffs, including bread, fruit and eggs, was even higher.
Analysts say higher fuel prices and a weaker currency - the naira - have also contributed to the rise.
When he took office last May, President Bola Tinubu immediately embarked on a series of bold economic reforms. He scrapped a costly but popular fuel subsidy and devalued the currency to try to revive growth.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Bole SHS teacher under scrutiny over alleged sexual misconduct with final-year student
6 minutes -
Ghana Police, Immigration Service remain most corrupt institutions – Global InfoAnalytics
8 minutes -
Arrest and punish Densu River polluters — Titus Glover
13 minutes -
Fire destroys Asokwa shop as GNFS prevents spread to nearby buildings
17 minutes -
NPP East London chapter secretary calls for party unity ahead of electoral area polls
26 minutes -
Film, Stage, Street: Jeffrey Nortey delivers masterclass in storytelling at sold-out ‘3 Faces’ show
35 minutes -
Majority of Ghanaians prefer younger leaders, Global InfoAnalytics poll shows
52 minutes -
IGP deploys special investigative team to probe death of UCC student Innocentia Avinu
59 minutes -
Global InfoAnalytics poll puts Mahama approval at 71%, highest since 2020
1 hour -
Italy-Ghana water tech workshop convenes top-tier firms to showcase market-leading innovationsÂ
2 hours -
Today’s front pages: Monday, June 15, 2026
2 hours -
RISE-Ghana advocates increase of DACF administrative cap from 5% to 10% for MMDAs
2 hours -
Global Ore secures approval to operate Aboso-Bompieso Mine, pledges jobs and community development
2 hours -
UK Prime Minister Starmer bans under-16s from social media
2 hours -
A New Dawn for Ghana Cocoa: Reforms set to improve farmer livelihoods and financial sustainability
2 hours