The rate at which prices of goods and services rise in the country continued to spiral upwards amidst higher fuel costs and depreciating naira as the headline inflation increased to 27.33 per cent year on year (YoY) in October 2023. The latest inflation data released by the National Bureau of Statistics (NBS) showed that the October inflation figure was 0.61 …

The World Bank has projected that the removal of subsidy on Premium Motor Spirit (PMS, better known as fuel or petrol) could push as many as 7.1 million Nigerians into poverty unless adequate palliatives are extended to poor and most vulnerable individuals. Even with the implementation of cash transfers to 10 million most vulnerable Nigerians, the bank said that the …

From less than N20,000 for a basket in recent weeks, fresh tomatoes now sell for N70,000 in major cities in southern Nigeria particularly. This has made many households and restaurants to resort to tomato pastes and other available alternatives for their cooking. A market survey conducted by Daily Trust showed that, in states where tomatoes are cultivated, including Kano, Katsina …

Public anger has been growing for months in Egypt over a severe dollar crunch and soaring food prices. But for many a money-saving tip from a state body has been the last straw. As families have struggled to purchase household staples, an Egyptian government agency praised an alternative, cheap protein source – “chicken feet, good for the body and the …

For the first time in 17 years, Nigeria’s inflation rate rose to 20.8 percent as a result of soaring food prices and supply chain disruption, according to  the National Bureau of Statistics (NBS). The Consumer Price Index report for September 2022 released on Monday shows that inflation figure for the preceding month – August – was 20.52 percent. The NBS …