Posted 2/18/2024, 7:04:49 PM
Food Inflation Soars to 35.41% in January, Driven by Sharp Increases in Staple Food Prices
- Food inflation rate in January 2024 was 35.41% year-on-year, over 11% higher than January 2023 rate
- Increases in prices of bread, cereals, tubers, oils, meat, fish, fruits drove rise in food inflation
- Kogi and Kwara top list of states with highest food inflation at over 40%
- 9 other states including Ekiti, Ondo, Akwa Ibom recorded food inflation rates above 39%
- President Tinubu said his administration won't establish a price control board to regulate food prices
