Abuja, 19 states face over 40% meals inflation charge as Christmas nears 

As Christmas approaches, meals inflation in Nigeria continues to rise sharply, with the newest Shopper Worth Index (CPI) report from the Nationwide Bureau of Statistics (NBS) exhibiting that Abuja and 19 states recorded meals inflation charges above 40% in November 2024.

The report highlights important will increase in meals costs throughout a number of states, additional aggravating the cost-of-living disaster for hundreds of thousands of Nigerians.

Based on the newest NBS report, meals inflation has seen a pointy rise, reaching 39.93% in November 2024, up from 32.84% in the identical interval final yr.

Costs for staple meals resembling yam, rice, maize, and palm oil have surged, contributing to the rise in meals inflation. Different gadgets resembling guinea corn, millet, and meat have additionally seen notable value hikes.

On a month-on-month foundation, meals inflation rose by 2.98%, barely up from 2.94% in October. This enhance is attributed to greater costs for gadgets resembling fish, rice, dairy merchandise, and meat. The twelve-month common meals inflation charge for the interval ending November 2024 stands at 38.67%, marking an 11.58%-point rise from the earlier yr’s 27.09%.

Throughout these states, meals stays the dominant inflation driver, significantly in Sokoto, Yobe, and Kebbi. Rising transportation prices, insecurity, and provide chain disruptions proceed to exacerbate Nigeria’s inflation disaster, leaving households weak.

What the information says 

• Along with Nigeria’s capital metropolis (Abuja, FCT) the 19 states with meals inflation charges above 40% in November 2024 are Sokoto, Yobe, Edo, Gombe, Kebbi, Abia, Zamfara, Anambra, Kano, and Oyo. Others embrace Plateau, Enugu, Jigawa, Niger, Borno, Kaduna, Taraba, Ebonyi, and Bauchi. These 19 states make up about 53% of the entire states in Nigeria.
• Sokoto topped the record with a meals inflation charge of 51.3%, although this marked a slight lower from 52.19% recorded in October. Yobe adopted carefully with a pointy enhance to 49.69% in November, up from 42.13% within the earlier month. Edo State got here in third with 47.77%, rising marginally from 46.56% in October. Different states with notable meals inflation charges embrace Gombe, which climbed to 46.63% in November in comparison with 45.35% in October, and Kebbi, the place meals inflation surged to 46.29% from 43.34%.
• Abia State recorded a meals inflation charge of 46.0% in November, growing from 43.25% in October, whereas Zamfara rose to 46.01% from 41.66%. Anambra State noticed its meals inflation bounce to 45.94%, up from 41.09%, whereas Kano skilled an increase to 45.34% in comparison with 42.47% within the earlier month. Oyo State, with a notable surge, recorded 44.38% in November, up from 39.29%.
• Different states the place meals inflation exceeded 40% embrace Plateau at 43.86%, Enugu at 43.32%, and Abuja, the place the meals inflation charge climbed to 42.84% in November, rising from 40.05% in October. In Niger State, meals inflation elevated to 42.25% from 39.80%, whereas Kaduna rose to 41.78% from 41.14%. Taraba noticed its meals inflation charge rise from 38.60% to 41.44%, Ebonyi elevated to 41.17% from 39.03%, and Bauchi rose to 40.48% in November, in comparison with 37.49% in October.

• Some states, nonetheless, recorded marginal declines in meals inflation. Jigawa dropped barely from 43.42% in October to 42.32% in November, whereas Borno noticed a extra important lower from 45.84% to 41.83%.

What you must know 

With the festive season approaching, the rising price of meals stays a serious concern for households throughout the nation.

• The will increase have been pushed by a mix of provide chain disruptions, greater gas prices, and rising demand for meals gadgets.
• Nigeria’s headline inflation rose to 34.60% in November 2024 reflecting an additional surge within the prices of products and companies throughout the nation. This exhibits that the headline inflation rose by 0.72% from 33.88% in October.
• On a month-on-month foundation, the headline inflation charge confirmed a marginal slowdown, standing at 2.638% in November in comparison with 2.640% in October.
• Whereas inflation stays excessive, this slight dip signifies a slower tempo of value will increase than the earlier month.
• Nevertheless, the year-on-year enhance nonetheless highlights the continued stress on shoppers, with the price of residing persevering with to climb.
• The rise in inflation is basically pushed by meals value will increase, which proceed to put a pressure on Nigerian households.