Selected food price watch data for May 2021 reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 17.10% and month-on month by 2.10% to N541.53 in May 2021 from N530.40 in April 2021
NBS Data on Consumer Price Index for May 2021 shows that headline Inflation has reduced from 18.12% in April 2021 to 17.93%. A further breakdown of the figures shows that the food sub-index reduced from 22.72% to 22.28% while the core sub-index increased from 12.74% in April to 13.15% for May.
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Inflation generally refers to a rapid increase in the general price of goods and services in the country over a certain period of time. Inflation in Nigeria has doubled since 2016 reaching 17.33% in 2021.