Food inflation eases as FMCG prices stabilise – Report
Nigeria’s food inflation eased to 19.57% in August as prices for fast-moving consumer goods (FMCG) remained stable, a new report has shown. Read More: https://punchng.com/food-inflation-eases-as-fmcg-prices-stabilise-report/
National food inflation dropped to 19.57 percent in August as prices of fast-moving consumer goods remained stable, according to the latest FMCG Momentum report. The report analyzed 110 FMCG food products and discovered that nearly eight out of ten had no month-on-month price change. Overall, FMCG momentum remained within the Stable range.
"Seventy-nine percent of tracked products recorded no monthly price change, while 12 percent declined and nine percent increased," the report noted. Six food categories tracked by the report remained within the Stable range. Food seasoning showed no monthly price movement across comparable products, while noodles and edible oil demonstrated high price stability.
Breakfast cereals and powdered milk showed a clear trend towards declining prices, with around one in five comparable products in each category experiencing decreases during August. The report suggests that while stability continues to prevail in packaged FMCG food prices, downward price adjustments became more prevalent during the month.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
