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Prices of food to increase in the market as Inflation hits 22.9%. The highest rate in 12 years.

First of all, what is inflation? Inflation is the general increases in price and the fall of value of money. The National Bureau of Statistics on Thursday April 15th have come out to announce that the prices of food will increase in the market because inflation has hit it's highest point since 12 years now. This was reported by pulse newspaper in their daily news.

According to punch report, The rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, meat, vegetable, fish, oils and fats and fruits. Though the minister of finance, budget, and National Planning, Zainab Ahmed, said in February that the President Muhammadu Buhari administration has a major target to bring down inflation to single digits.

Recently, market survey shows that the prices of fruits and food item have already gone up due to this inflation. This now bothers on how the common man will live and survive with the minimum wage which is below average for survival.


NEWS CREDIT: PULSE

Content created and supplied by: JAYCRIB (via Opera News )

National Bureau of Statistics

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