prices

Food prices highest in Kogi, Ogun, Anambra in May

Kogi, Ogun and Anambra recorded the highest prices in food items in the month of May, the consumer price index (CPI) report released on Tuesday by the National Bureau of Statistics (NBS) has shown.

The report revealed that on a month-on-month basis, food price inflation was highest in Kogi at 3.11 per cent, Ogun at 2.89 per cent and Anambra at 2.37 per cent.

Edo, Sokoto and Ekiti recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate) within the period.

The report said the food inflation on a

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Nigeria’s food prices soar as inflation falls again

Nigeria’s inflation rate fell for the second consecutive month in May to 17.93 per cent from 18.12 per cent recorded a month earlier.

The National Bureau of Statistics said Tuesday that the prices of goods and services, measured by the Consumer Price Index (CPI) increased by 17.93 per cent in May 2021 when compared to May 2020.

Though the scale of increase remained high, it was 0.05 per cent lower than what obtained a month earlier, NBS said.

There was no respite in terms of increase in food prices as food inflation rose in May to 22.28 per cent, compared

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Derita Dairy Bar is back with fresh food and low prices

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On Juneteenth of 2020 – in the midst of Covid – Devin McDaniel and her two business partners reopened Derita Dairy Bar. After buying it from the previous owners in 2019, McDaniel kept a lot of the same menu items but changed all the ingredients from frozen to fresh. This change plus her social media marketing skills has made the walk-up restaurant a new favorite.

“I like that we are in the community and I like

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Global food prices surge again, stoking inflation fears | Business and Economy News

Concerns are growing over surging food prices, which climbed for the 12th month straight in May, according to a United Nations gauge.

Global food prices extended their rally to the highest in almost a decade, heightening concerns over bulging grocery bills as economies struggle to exit the Covid-19 crisis.

A United Nations gauge of world food costs climbed for a 12th straight month in May, its longest stretch in a decade. The continued advance risks accelerating broader inflation, complicating central banks efforts to provide more stimulus.

Drought in key Brazilian growing regions is crippling crops from corn to coffee, and

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Why food prices will keep going up

The consumer price index for April confirms what most Americans already know. Prices are going up especially for basics like food. 

Food price inflation, on a 12-month unadjusted basis, is running at 2.4% and was up 0.4% in April, the largest increase since October 2020. Overall inflation is running at 4.2% the largest 12-month increase since a 4.9% increase for the period ending September 2008.

“Any animal that you eat is eating grains, and it’s eating corn, soybeans, or soybean meal, and perhaps even some wheat,” said Sal Gilbertie the CEO and president of Teucrium Funds, the company’s ETFs track

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