Market Food Prices Fell, So Why Is Your Buka Plate Still Getting More Expensive?

Market food prices fell by 0.92% between August and September 2026, according to National Bureau of Statistics data. But restaurant and accommodation services rose by 0.78% over the same period. That is why the rice, beans and meat you buy at your usual buka may cost the same, or even more, despite reports that food is getting cheaper. Restaurant prices tend to be “sticky.” In January, market food and drink prices fell by 7.10%, yet restaurant prices barely moved, dropping just 0.08%. When costs rise, however, eateries adjust quickly. Restaurant prices jumped 6.92% in March, the biggest monthly rise among major consumer spending groups this year. Ingredients are only one part of the cost of a meal. Canteens also pay for cooking gas, diesel, rent, staff wages, water and takeaway packaging. With energy costs rising and rents still under pressure, a small drop in market prices may not be enough to reduce the price on the menu. This affects many Nigerians who buy at least one meal outside the home each day. Restaurants and accommodation services account for 12.92% of the national inflation basket and contributed 1.89 percentage points to September’s 14.63% headline inflation rate.

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