Naira Drops As Food Inflation Rises
Fears of continued rise in inflation among foreign exchange dealers have further weakened the naira, market statistics have shown.
The local currency lost strength at the weekend, dropping to N485/$1 from N483/$1 at the parallel market.
The slide followed release of...
Food Inflation Rises By 20.6% As Price Increases Persist
Increases in the prices of basic food items continued for the 17th consecutive month, prompting the Food inflation to hit 20.6 per cent in January, the highest since September 2019.
Consequently, the nation’s annual inflation rate also...
Rising Food Inflation Bites Deeper Into Weakened Household Income
Disposable income of many Nigerian households has continued to come under pressure, with many spending more on food following continued rise in food inflation, and the consumer price index (CPI).
According to the latest data from the...
