Nigeria's Food Inflation Jumps to 12.2% in February

Nigeria's annual food inflation rate rose to 12.2% in February 2026, up from 8.89% in January, according to the National Bureau of Statistics (NBS). This marks a reversal of a two-month downward trend and increases pressure on household food costs. The monthly food inflation rate also rose to 4.69% in February from -6.02% in January. Headline inflation eased marginally to 15.06% from 15.10% in January, driven partly by rising global oil prices. Key items driving food inflation include beans, yam flour, cassava tuber, crayfish, and carrots. Kogi State recorded the highest headline and food inflation rates at 23.57% and 26.91% respectively. The development follows global oil price increases due to geopolitical tensions in the Strait of Hormuz. Will you adjust your food budget or seek alternative sources to cope with rising costs?

SOURCE: https://www.channelstv.com/2026/03/17/food-inflation-resumes-upward-trend-hits-12-12/