The problem of rising food prices has reached a peak in Nigeria- NBS

  The problem of rising food prices has reached a peak in Nigeria- NBS In Nigeria, there has been an increase in the price of kayaks to 25.8...

 The problem of rising food prices has reached a peak in Nigeria- NBS

In Nigeria, there has been an increase in the price of kayaks to 25.80 points in the last month of August from 24.08 points seen in July as stated by the National Bureau of Statistics in its monthly report.

The figures released by the Bureau show that almost every month, Nigerians see an increase in inflation by at least one and a half percentage points, year after year.

The agency said that last month alone, the price increase increased by 1.72 points, the worst seen in the months of this year, and the problem is affecting food products.

The NBS figures show an increase in inflation by 5.27 points compared to the one collected in August 2022.

The figures contained in the monthly report released by the NBS show that food products are the highest in the price increase which is related to the withdrawal of fuel subsidies by the government of Bola Ahmed Tinubu.

NBS said that despite President Bola Tinubu's ban on food in Nigeria, the release of grains from government warehouses has not reduced or stopped the rise in food prices in other parts of the country.