Inflation measures the rate at which the prices of goods and services increase over a period of time.
The consumer price index which measures inflation rose by 0.40 percentage points between July and August 2020 on a year-on-year basis; the
According to the August CPI/inflation report released by the National Bureau of Statistics (NBS), the rate of food inflation rose by 16 percent in August compared to 15.48 percent in July 2020.
Recently, Tolulope Olorundero, a public relations and communications consultant, took to her Twitter account to narrate her experience.
She described her encounter as shocking, saying the price of Quaker Oats refill went from N650 to N1,300 and increased again to N1,700.
“If you have not been to the market in a while, you are in for a shocker! I mean, Quaker Oats refill went from N650 to N1,300 to N1,700!!! My expression throughout as I shopped today. Have you shopped recently? Share an emoji to show what your experience was like,” the tweet read.
Other people began to share their experiences with purchasing goods and services in recent time.
Onuoha Godswill wrote: “Two weeks ago, N1,000 gave me 31.4 units of electricity, today the same N1,000 gave me just 16.2 units. I asked madam is this an error? Madam replied “ask Gen.Bubu”. Two months ago, Checkers Custard sold for N1,650, today it’s N2,550,” he wrote.
Celine Amarachi, another user, said she got angry over the increasing price of rice.
“I went to buy Half bag of rice today, they said it’s 32k for a full bag, N31k with Abeg oo. The same rice I priced on Saturday and it’s 28k and told the woman that I will return today. E weak me. I was so angry ehn,” she wrote.
Bro, now 15.93 units for 1k on my end as at Friday. And it vanishes in 5 days or less.
I went to buy Half bag of rice today, they said it’s 32k for full bag, 31k with Abeg oo.
The same rice I priced on Saturday and it’s 28k and told the woman that I will return today. E weak me.
I was so angry ehh.
