Incessant flooding has disrupted the distribution and logistics of farm products in the Middle Belt of Nigeria. This has led to an uptick in food prices and inflation. The planned 2.3% (N250) increase in the price of flour is also going to push up the level of food inflation in October.
The expected inflation pressure is likely to be compounded by the minimum wage settlement in the next few days.
The attached document contains a snapshot of the global and domestic developments in the commodities market this week.
Enjoy your read!