The National Bureau of Statistics reported that headline inflation for the month of November came in at 21.47% Y-o-Y, 6.07% higher than the rate recorded in November 2021. This uptick marked the 10th consecutive month of an increase in the inflation rate as headline inflation reached another historical high.
The spates of flooding earlier in the year caused a lot of damage to farmlands while also displacing farmers in the food producing regions. This, coupled with relative FX scarcity, instability and end of year festivities remain major threats to food prices going forward.
