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Hardship: Nigeria Missing As Egypt, Argentina, Zimbabwe, Palestine, Makes List Of Countries With Worst Food Inflation

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World Bank Disburses $300 Million Palliative Loans

A new World Bank report has left Nigeria out as it listed Argentina, Egypt, Zimbabwe and Palestine among the top 10 Nations with the worst food inflation.

The latest ranking comes amid a continued rise in food prices and worsening economic hardship, in the country.

Naija News recalls that the National Bureau of Statistics  (NBS) revealed in its latest report that Nigeria’s inflation rate skyrocketed by 31.6% in the month of February.

According to the report, the Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, increased from 29.9 per cent recorded in the previous month.

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However, the World Bank, in its latest food security update, listed Argentina, Zimbabwe, Egypt, Palestine, Vietnam, and Malawi among the top 10 nations hardest hit by food inflation.

Others are Haiti, Liberia, Malta and Guinea.

Nigeria’s Inflation Rate Rises To 31.7% Amid Food Prices Hike

The National Bureau of Statistics (NBS) has revealed in it’s latest report that Nigeria’s inflation rate skyrocketed by 31.6% in the month of February.

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According to the report, the Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, went up from 29.9 per cent recorded in the previous month.

The CPI report released on Friday (today) also revealed that food inflation surged to 37.92 per cent in the month under review.

The bureau said the January 2024 headline inflation rate showed an increase of “1.80% points when compared to the January 2023 headline inflation rate.”

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