• 0.37% drop shows inflation is decelerating, says CBN
• Price crisis not abating soon, experts insist
• Anchor Borrower Programme worsens food inflation, farmers argue
Nigerian inflation continues to defy global trends, setting a new multi-decade of 27.3 per cent in October even as experts warned that prices, which have been an uptrend in the past two years, will not abate anytime soon.
Stakeholders are particularly concerned about the impact of runaway food inflation, which rose to 31.5 per cent, on households and how the crisis could push more individuals below the poverty line.
Nigeria, according to Our World in Data, is in the top spot of countries with the highest food expenditure with the percentage of total personal income that goes into food estimated at 60 per cent.
