Food inflation remains biggest threat despite easing headline rate – CPPE
In a policy brief released on Thursday, the private sector advocacy group said the latest inflation figures suggest that while macroeconomic conditions are gradually stabilising, persistent structural problems continue to fuel food inflation and the cost-of-living crisis.
The Centre for the Promotion of Private Enterprise (CPPE) has warned that rising food prices remain the biggest challenge to Nigeria’s inflation outlook despite the slight decline in the country’s headline inflation rate in June.
It identified insecurity in farming communities, high transportation and logistics costs, rising energy prices, expensive fertilisers, supply chain disruptions and imported inflation linked to global geopolitical tensions as the major drivers of food prices.
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