Nigeria's food inflation climbed to 20.57 percent year-on-year in January of 2021, its highest level since July of 2008. The upward trend is mainly linked to pandemic disruptions and dollar shortages as well as lingering restrictions on imports of certain food items despite the reopening of the country's borders. At the same time, the incessant attacks on farmers and farmlands have prevented farmers from operating at optimal capacity which causes some shortages of goods. source: National Bureau of Statistics, Nigeria
Food Inflation in Nigeria averaged 11.87 percent from 1996 until 2021, 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 February of 2021.
Food Inflation in Nigeria is expected to be 17.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in Nigeria to stand at 15.20 in 12 months time. In the long-term, the Nigeria Food Inflation is projected to trend around 13.00 percent in 2022, according to our econometric models.