The prices of 1 kilogram (kg) of beans, tomatoes and 12 pieces of agric medium sized eggs rose above 200 percent year-on-year in July 2024.
According to the National Bureau of Statistics, NBS, Food Price Watch Report for July 2024, the price of 1 kg beans brown (sold loose) increased by 262.98 percent YoY to N2,444.81 in July 2024 from N673.53 recorded in July 2023.
Similarly, there was a 203.57 percent YoY increase in the price of 1kg of tomato to N1,693.83 in July 2024 from N557.96 in July 2023.
Also, the average price of 1kg of yam tuber increased by 234.23 percent to N 1,802.84 in July 2024 from N 539.41 in July 2023.
Furthermore, the price of 12 medium sized agric eggs experienced a 155.5 percent increase YoY to N2,170.17 in July 2024 from N1,006.64 in July 2023.
NBS said: “ Selected Food Price Watch for July 2024 shows that the average price of 1kg beans brown (sold loose) stood at N2,444.81. This indicates a rise of 262.98 percent in price on a YoY basis from N673.53 recorded in July 2023 and a 6.63 percent rise in price on a month-on-month (MoM) basis from N2,292.76 in June 2024.
“ Agric eggs medium size (12 piece) experienced significant price increases year on year by N2,170.17 from N1,006.64 in July of last year (2023) .
“On a MoM basis, the average price of this item rose by 12.11 percent from N 1,935.69 in June 2024.
“There was also a notable price increase of tomato 1kg by 203.57 percent on a YoY basis from N557.96 in July 2023 to N1,693.83 in July 2024.
“On a MoM basis, it decreased by -26.43 percent from N 2,302.26 in June 2024.
“ Furthermore, the average price of 1kg Garri white sold loose went up by 167.98 percent on a YoY basis from N 429.89 in July 2023 to N 1,151.79 in July 2024, while there was an increase of 1.43 percent on a MoM basis.
“Also, the average price of 1kg of Yam tuber increased by 234.23 percent on a YoY basis from N 539.41 in July 2023 to N 1,802.84 in July 2024.
“On a MoM basis, it decreased by -10.82 percent from N 2,021.55 in June 2024 to N 1,802.84 in July 2024.”
The bureau further said that the state profile analysis in July 2024 reveals that the highest average price of 1kg of bean brown (sold loose) was recorded in Rivers state at N 3,070.96 while the lowest was in Adamawa state at N 1,532.23.
It added: “The highest average price of 1kg of tomato was recorded in Osun at N 3,000 while the lowest was in Kaduna State at N761.45.
“Regarding the average price of 1kg of yam tuber, Kwara state recorded the highest price at N 3,894.08, while Adamawa recorded the lowest price at N742.95.
“Gombe recorded the highest average price of 1kg garri white sold loose at N1,624.72, while the lowest was reported in Taraba at N 892.98.”
VANGUARD
