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Scholars Journal of Arts, Humanities and Social Sciences | Volume-7 | Issue-03
Causes and Effect of Food Inflation on Nigeria’s Economy
Adams Oluwadamilola Kemi*
Published: March 30, 2019 | 124 122
DOI: 10.36347/sjahss.2019.v07i03.015
Pages: 191-194
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Abstract
Food price inflation emerges as a main challenge in the economy of Nigeria from the last few years. Sharp Rising in prices of food has increased the cost of living which hurts the economy of the country. Having looked at the present trend in the Nigerian economy it is very obvious that price of items has continued to raise especially food related items. The study gives a special reference to the impact of food inflation on Nigeria’s economy. The objectives of the study are Analyse factors causing food inflation rate; Find out the effect of inflation on Nigeria economy; Identify the major food items that inflation affects most; and Determine solution to the problem of food inflation in Nigeria. Data for the study was collected using a structured interview question and also generated from various issues economic survey of Nigeria. Descriptive statistics, Correlation analysis and Likert type scale was used for the study.