{"id":87663,"date":"2024-06-17T09:13:27","date_gmt":"2024-06-17T09:13:27","guid":{"rendered":"https:\/\/outliereditor.co.za\/?p=87663"},"modified":"2025-11-17T17:40:48","modified_gmt":"2025-11-17T17:40:48","slug":"nigerians-face-crippling-food-price-increases","status":"publish","type":"post","link":"https:\/\/outliereditor.co.za\/index.php\/2024\/06\/17\/nigerians-face-crippling-food-price-increases\/","title":{"rendered":"Nigerians face crippling food price increases"},"content":{"rendered":"\n

Nigerians are facing steep increases in food prices as inflation figures hit record highs. In May 2024 food inflation increased to 40.66%, an almost 16 percentage point increase on the May 2023 inflation rate of 24.82%, Punch reports<\/a>.<\/p>\n\n\n\n

Headline inflation (covering all consumer goods) increased to 33.95% according to the National Bureau of Statistics (NBS). This is a 28-year high not seen since March 1996.<\/p>\n\n\n\n

NBS said that increases in the prices of semovita, oatflake, yam flour, garri, beans, Irish potatoes and yams contributed to the year-on-year increase in the food inflation rate.<\/p>\n\n\n\n

Other contributors included palm oil, vegetable oil, beef, chicken and pork products.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigerians are facing steep increases in food prices as inflation figures hit record highs. In May 2024 food inflation increased to 40.66%, an almost 16 percentage point increase on the May 2023 inflation rate of 24.82%, Punch reports<\/a>.<\/p>\n

Headline inflation (covering all consumer goods) increased to 33.95% according to the National Bureau of Statistics (NBS). This is a 28-year high not seen since March 1996.<\/p>\n

NBS said that increases in the prices of semovita, oatflake, yam flour, garri, beans, Irish potatoes and yams contributed to the year-on-year increase in the food inflation rate.<\/p>\n

Other contributors included palm oil, vegetable oil, beef, chicken and pork products.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,1387],"tags":[],"newsletter-post":[],"site":[],"class_list":["post-87663","post","type-post","status-publish","format-standard","hentry","category-economy","category-the-outlier"],"acf":{"post_style":"ch","show_on_front":"Yes","link_through":"Yes","big_number":"","big_number_caption":"","big_number_link":"","big_number_background":"","big_number_text_colour":"#000000","big_number_icon":false,"featured_chart":{"ID":87665,"id":87665,"title":"NigeriaFoodInflation","filename":"NigeriaFoodInflation.png","filesize":22090,"url":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/06\/NigeriaFoodInflation.png","link":"https:\/\/outliereditor.co.za\/index.php\/2024\/06\/17\/nigerians-face-crippling-food-price-increases\/nigeriafoodinflation\/","alt":"","author":"1","description":"","caption":"Nigerians are facing steep increases in food prices as inflation figures hit record highs. In May 2024 food inflation increased to 40.66%, almost 16 percentage points higher than the May 2023 inflation rate of 24.82%.\r\nHeadline inflation (covering all consumer goods) increased to 33.95% according to the National Bureau of Statistics (NBS). This is a 28-year high not seen since March 1996.\r\nNBS said increases in the prices of semovita, oatflake, yam flour, garri, beans, Irish potatoes and yams contributed to the year-on-year increase in the food inflation rate. Meat, cooking oil and non-alcoholic beverages have also contributed.\r\nSome relief may be on the horizon, Bloomberg reports. The government may suspend import duties on food staples as well as drugs and other essential items for 6 months to slow inflation. Authorities are also in talks with labour unions to\u00a0increase the minimum wage.","name":"nigeriafoodinflation","status":"inherit","uploaded_to":87663,"date":"2024-06-17 09:12:53","modified":"2024-06-18 06:50:49","menu_order":0,"mime_type":"image\/png","type":"image","subtype":"png","icon":"https:\/\/outliereditor.co.za\/wp-includes\/images\/media\/default.png","width":810,"height":810,"sizes":{"thumbnail":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/06\/NigeriaFoodInflation-150x150.png","thumbnail-width":150,"thumbnail-height":150,"medium":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/06\/NigeriaFoodInflation-300x300.png","medium-width":300,"medium-height":300,"medium_large":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/06\/NigeriaFoodInflation-768x768.png","medium_large-width":768,"medium_large-height":768,"large":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/06\/NigeriaFoodInflation.png","large-width":810,"large-height":810,"1536x1536":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/06\/NigeriaFoodInflation.png","1536x1536-width":810,"1536x1536-height":810,"2048x2048":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/06\/NigeriaFoodInflation.png","2048x2048-width":810,"2048x2048-height":810}},"flourish_chart_id":"","flourish_sub_title":"","flourish_chart_width":"medium","is_newsletter_post":"No","chart_url":"","background_colour":"#0089AA","text_colour":"#FFFFFF"},"_links":{"self":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/87663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/comments?post=87663"}],"version-history":[{"count":8,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/87663\/revisions"}],"predecessor-version":[{"id":87825,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/87663\/revisions\/87825"}],"wp:attachment":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/media?parent=87663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/categories?post=87663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/tags?post=87663"},{"taxonomy":"newsletter-post","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/newsletter-post?post=87663"},{"taxonomy":"site","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/site?post=87663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}