Cost of food in Nigeria increased 40.01 percent in March of 2024 over the same month in the previous year. Food Inflation in Nigeria averaged 13.26 percent from 1996 until 2024, reaching an all time high of 40.01 percent in March of 2024 and a record low of -17.50 percent in January of 2000. source: National Bureau of Statistics, Nigeria
Food Inflation in Nigeria is expected to be 34.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Food Inflation is projected to trend around 20.00 percent in 2025 and 17.00 percent in 2026, according to our econometric models.