Analysis: Why prices of goods are rising in Nigeria despite decreasing inflation figures.
Global food prices were steady in September, as lower sugar prices were offset by increased quotations for vegetable oils and meat. But, in Latin America and the Caribbean, the Banana Fusarium wilt disease or Fusarium oxysporum f.sp. cubense incorrectly referred to as Panama Disease occasionally, is threatening to sack millions of people who depend on the crop for their livelihoods.
A latest report by the Food and Agriculture Organisation (FAO) of the United Nations says global food prices declined in August, driven by sharp falls in the prices of staple cereals and sugar.
The prices of food items in Nigeria may be on its way up as President Buhari Tuesday in Daura, Katsina State, disclosed that he has directed the CBN to stop providing foreign exchange for importation of food into the country.