Nigeria’s meals inflation price continued to weigh closely on family budgets because the annual meals inflation measurement confirmed substantial enchancment from final yr’s disaster ranges.
Knowledge from the nationwide inflation report confirmed that meals inflation stood at 13.12% year-on-year, a pointy decline from the 39.16% recorded in October 2024.
The moderation displays sturdy base results following months of steep worth surges pushed by gasoline reforms, insecurity in food-producing areas and foreign money depreciation.
Nonetheless, the week-to-week actuality for shoppers stays difficult.
On a month-on-month foundation, the meals inflation determine printed at -0.37%, shifting upward from -1.57% in September. The transfer signifies that meals costs resumed an upward trajectory after briefly slowing within the earlier month.
Market analysts attribute the renewed stress to rising prices of city logistics, transport-related markups, and brief provide of sure important gadgets pushed by seasonal patterns and structural bottlenecks.
The worth will increase had been led by:
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Recent onions
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Pineapple and oranges
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Shrimp and seafood gadgets
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Groundnuts
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Native greens together with ugu and okazi
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Choose meat gadgets corresponding to goat meat, cow tail and liver
These classes reveal how unstable perishables stay on the coronary heart of meals inflation, with households feeling the sharpest ache throughout demand spikes or provide disruptions.
Meals & Non-Alcoholic Drinks continued to contribute the most important share to the headline inflation index, accounting for greater than 6.4 share factors of the 16.05% nationwide headline determine.
In essence, meals alone is answerable for properly over 40% of Nigeria’s complete inflation burden.
Economists warning that whereas the slowdown in annual meals inflation is encouraging on paper, the rising month-to-month worth momentum underscores the necessity for sustained supply-chain interventions and agricultural reforms.
Analysts highlighted safety circumstances in key meals belts, excessive transport prices and restricted cold-chain logistics as ongoing threats to cost stability heading into the year-end festive season when demand sometimes rises.
Regardless of progress recorded this yr, meals affordability will stay a central precedence for policymakers till worth stability turns into sustained on the market degree.
The Central Bank and monetary authorities are anticipated to take care of sturdy coordination round meals safety programmes, mechanisation incentives and efforts to spice up home manufacturing.
Meals remains to be the number-one driver of Nigerian inflation — and shoppers can really feel it each day.