The National Bureau of Statistics (NBS) has revealed that Nigeria’s imported food inflation has slowed, offering a glimmer of hope to consumers. However, the prices of these food items continue to remain high, which may not provide immediate relief to households.
According to the NBS’s latest Consumer Price Index (CPI), the imported food inflation rate for September 2026 stood at 18.66%, down from 20.73% in August. This reduction signifies a reduction in the rate of increase of imported food prices, but the prices themselves have yet to decrease significantly.
The highest increases were recorded in the prices of rice, bread, fish, milk, and vegetables. These commodities are essential to the daily diet of many Nigerians, and any increase in their prices can have a significant impact on household budgets.
This latest report comes amidst growing concerns over food security and high food prices in Nigeria. The country has been grappling with inflation, which has affected the affordability of essential commodities such as food, housing, and fuel.
The Central Bank of Nigeria (CBN) has taken steps to address the issue, including implementing measures to improve foreign exchange liquidity in the interbank foreign exchange market. However, more needs to be done to ensure that food prices become more affordable for Nigerian consumers.
In conclusion, while the latest report indicates a slowdown in the rate of imported food inflation, the prices themselves remain high. This could have a significant impact on household budgets and food security in Nigeria.
By
