Mr. Godwin Emefiele, the Governor of theCentral Bank of Nigeria (CBN) has disclosed that the rapid increase in food prices and all other products, excluding farm produce, is momentary and will reverse aggressively in another three to four months. The CBN disclosed this after the publication of the National Bureau of Statistics’ (NBS), inflation report for the month of October which reflects inflation figures at a 17-month high, from 11.24% in September to 11.61% in October. Mr. Emefiele stated that the attribution of the rise in food prices and all other goods to the border closure is true but the benefits outweigh the temporary rise in prices. Mr. Emefiele, after admitting that the border closure led to shortfalls in the supply of goods as a result of local production not meeting up with the market demands and the non-existence of dumped goods from other countries, said it is still Nigerian farmers and car dealers that are benefitting from the price increase.