The National Bureau of Statistics, NBS, has revealed that that prices of some food items rose significantly in the month of August 2024. Prominent among the food items that witnessed significant price increases are beans, eggs, bread, rice, and yam.
This was contained in the Bureau’s Selected Food Prices Watch Report for August 2024 released in Abuja on Wednesday.
According to the Report, the average price of 1kg of brown beans increased by 271.55 per cent. The item rose from N692.95 recorded in August 2023 to N2,574.63 in August 2024.
“On a month-on-month basis, 1kg of brown beans increased by 5.31 per cent in August from the N2,444.81 recorded in July 2024.”
The Report noted that the average price of medium-sized Agric eggs (12 pieces) increased by 121.92 per cent. On a year-on-year basis, the item increased from N1,031.55 recorded in August 2023 to N2,289.19 in August 2024.
“On a month-on-month basis, the eggs increased by 5.48 per cent from the N2,170.17 recorded in July 2024.”
The report also stated that the average price of sliced bread increased by 113.16 per cent on a year-on-year basis. This is an increase from N684.85 in August 2023 to N1,459.85 in August 2024.
“On a month-on-month basis, the price increased by 2.28 per cent from the N1,427.25 recorded in July 2024.”
In addition, the average price of 1kg of local rice rose by 148.41 per cent on a year-on-year basis. From N737.11 recorded in August 2023 to N1,831.05 in August 2024
“On a month-on-month basis, rice increased by 3.65 per cent from N1,766.64 recorded in July 2024.”
Also, the report said that the average price of 1kg of a tuber of yam increased by 188.31 per cent on a year-on-year basis. Rising from N576.39 in August 2023 to N1,661.80 in August 2024.
“However, on a month-on-month basis, the price decreased by -7.82 per cent from the N1,802.84 recorded in July 2024.”
The NBS said the average price of 1kg of tomato also increased on a year-on-year basis by 171.72 per cent. From N554.37 recorded in August 2023 to N1,506.35 in August 2024.
“However, on a month-on-month basis, the average price of 1kg of tomato declined by 11.07 per cent. From N1,693.83 in July 2024 to N1,506.35 in August.”
On state profile analysis, the report showed that in August 2024, the highest average price of 1kg of brown beans was recorded in Akwa Ibom at N3,276.79. While the lowest was recorded in Adamawa at N1,710.92.
The report also noted that Niger recorded the highest average price of medium size Agric eggs (12 pieces) at N2,996.92. While the lowest was in Jigawa at N1,786.01.
The Bureau stated that the highest average price of sliced bread was recorded in Rivers at N1,850. While the lowest price was recorded in Yobe at N908.81.
According to the report, Kogi recorded the highest average price of 1kg local rice (sold loose) at N2,680.29. While Benue reported the lowest at N1,206.84.
The NBS reported that the highest price of 1kg of tomato was recorded in Abuja at N2,2206.31. While the lowest price was recorded in Kaduna at N734.94.
Analysis by zone showed that the average price of 1kg of brown beans was highest in the South-south at N3,165.11. The zone was followed by the North-central at N2,900.86.
“The lowest price was recorded in the North-West at N1,982.78.”
The North-central and South-east recorded the highest average prices of medium-size agric eggs (12 pieces), at N2,789.15 and N2,438.06, respectively. While the lowest price was in the North-West, at N1,963.65.
The report also showed that the South-South recorded the highest average price of sliced bread at N1,785.56. Followed by the South-east at N1,635.73, while the North-east recorded the lowest price at N1,163.78.
The NBS report also showed that the South-west and the South-south recorded the highest average price of 1kg of local rice (sold loose) at N1,960.87 and N1,886.32 respectively.
“The North-west recorded the lowest price of 1kg of local rice (sold loose) at N1,591.21.”
source: NAN
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