Cost of food in Nigeria surged 19.5 percent from a year earlier in May of 2022, accelerating from an 18.37 percent rise in the previous month. It was the highest food inflation since last September as the country is still largely dependent on agricultural imports, especially grains. source: National Bureau of Statistics, Nigeria
Food Inflation in Nigeria averaged 12.26 percent from 1996 until 2022, reaching an all time high of 39.54 percent in September of 2001 and a record low of -17.50 percent in January of 2000. This page provides - Nigeria Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Food Inflation - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Food Inflation in Nigeria is expected to be 20.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Food Inflation is projected to trend around 8.50 percent in 2023 and 7.00 percent in 2024, according to our econometric models.