Food inflation soars as prices of foodstuffs increase

The prices of basic food items in Nigeria have continued to soar as food inflation rate has climbed another notch in the month of August, according to the National Bureau of Statistics (NBS).

In a new report titled ‘Selected Food Prices Watch (August 2023)’, released on Monday, the NBS disclosed that prices of items like beef, tomatoes, beans, garri, yam, and other food commodities were on the increase in August.

The report which the NBS said was a result of a nationwide survey, showed that the prices of food items have skyrocketed, leaving many people unable to afford staple foods.