The National Bureau of Statistics (NBS) announced yesterday that food prices continued to escalate in April, with an average year-on-year increase of 140.4% for five essential food items. The data, published in the NBS’s Selected Food Price Watch for April 2024, highlights significant price surges for local rice, white garri, tomatoes, brown beans, and yam.
According to the report, the average price of 1kg of loose local rice reached N1,399.34 in April 2024, marking a 155.93% increase from N546.76 in April 2023 and a 3.47% rise from N1,340.74 in March 2024.
Similarly, the average price for 1kg of loose white garri soared by 134.98%, from N362.50 in April 2023 to N851.81 in April 2024. This also represents a 13.59% month-on-month increase from N749.89 in March 2024.
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Tomato prices also surged, with 1kg selling for N1,123.41 in April 2024, a 131.58% increase from N485.10 the previous year, and a 17.06% rise from N959.68 in March 2024.
Brown beans saw a price hike of 125.43%, with 1kg costing N1,387.90 in April 2024, up from N615.67 in April 2023. Month-on-month, the price increased by 12.44%.
The cost of 1kg of yam tuber also experienced a significant rise, increasing by 154.19% from N444.69 in April 2023 to N1,130.37 in April 2024, with a 5.76% month-on-month increase from N1,068.78 in March 2024.
These price increases reflect a broader trend of rising food costs, impacting household budgets and highlighting the need for measures to address food inflation.
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