The National Bureau of Statistics (NBS) has said that the surge in prices of food items continued in April, with the average price of five basic foods items recording 140.4 per cent, year-on-year, (YoY) increase during the month. The five food items, according to NBS, are local rice, white garri, tomatoes, brown beans and yam.
The report said Selected Food Price Watch for April 2024 shows that the average price of 1kg local rice sold loose stood at N1,399.34. This indicates a rise of 155.93% in price on a year-on-year basis from 546.76 recorded in April 2023 and 3.47% rise in price on a month-on-month basis from N1,340.74 in March 2024. The average price of 1kg of white garri, sold loose increased by 134.98% on a year-on-year basis from N362.50 in April of last year to N 851.81 in April 2024. On a month-on-month basis, the average price of this item increased by 13.59% from N749.89 in March 2024. The average price of 1kg of Tomato rose by 131.58% on a year-on-year basis from N485.10 in April 2023 to N1,123.41 in April 2024. On a month-on-month basis, it increased by 17.06% from N959.68 in March 2024. Furthermore, the NBS said, the average price of 1kg brown beans (sold loose) rose by 125.43% on a year-on-year basis from N615.67 in April 2023 to N1387.90 in April 2024, while there was an increase of 12.44% on a month-on-month basis.
Price of Rice, Beans, Garri, Others Rise by 140% – NBS
