inflation
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Nigerian consumers squeezed by rising food prices, with worse to come
The Association of Master Bakers and Caterers of Nigeria (AMBCN) has warned local consumers that a 50% hike in the price of bread is “inevitable.” According to Raji Omotunde, Lagos State chapter chairman of AMBCN, “Prices of all ingredients used for baking are too high, especially flour and sugar … selling at the current price
16th September 2020
Categories: Baked goods
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Covid-19 disruption exposes supply-chain weaknesses, driving up food prices in sub-Saharan Africa
Many African countries have seen substantial increases in food prices over the past couple of months. In Nigeria, the annual rate of food price inflation hit a two-year high of 15.0% during May. Local newspaper The Guardian noted a surge in wholesale prices: “A 50kg bag of rice that sold for NGN18,000 (USD47) is now
16th June 2020
Categories: SagaRetail News - Retail - Kenya - Nigeria