The recent National Bureau of Statistics (NBS), report on prices of selected Food for June 2024, does not give any hope that food prices are slowing as the prices of most staple foods in the country rose by over 200 per cent in the last 12 months.
The report which shows that the price of beans is highest in Kogi State at N3,006.43 per kilogramme, with Adamawa recording the lowest at N1,336.11, also shows that the highest price of one kilogramme of yam tuber was recorded in Lagos State at N3,376.54 while Adamawa recorded the lowest price at N1100.00.
The national average price of 1kg beans brown (sold loose) stood at N2,292.76. This indicates a rise of 252.13 per cent in price on a year-on-year basis from N651.12 recorded in June 2023 and a 14.11 per cent rise in price on a month-on-month basis from N2,009.23 in May 2024.
NBS also reports that Tomatoes (1kg) experienced significant price increases year on year by 320.67 per cent from N547.28 in June of last year (2023) to N2,302.26 in June 2024. On a month-on-month basis, the average price of this item rose by 55.59 per cent from N1,479.69 in May 2024.
According to the report, there was also a notable price increase of Irish potato by 288.50 per cent on a year-on-year basis from N623.75 in June 2023 to N2,423.27 in June 2024. On a month-on-month basis, it increased by 51.92 per cent from N 1,595.07 in May 2024.
Furthermore, the average price of 1kg Garri white sold loose went up by 181.66 per cent on a year-on-year basis from N 403.15 in June 2023 to N1,135.51 in June 2024, while there was an increase of 1.86 per cent on
a month-on-month basis. Also, the average price of 1kg of Yam tuber increased by 295.79 per cent on a year-on-year basis from N 510.77 in June 2023 to N 2,021.55 in May 2024. On a month-on-month basis, it increased by 52.87 per cent from N 1,322.36 in May 2024 to N 2,021.55 in June 2024.
Also, analysis by zone showed that the average price of Bean Brown (sold loose) was highest in the Northcentral at N2,923.45, followed by the South-south at N2,630.03, while the Northwest recorded the lowest average price at N1,647.03. The average price of 1kg of Tomato was highest in the Southwest and the South-east at N3,261.84 and N2,852.59, respectively, while the lowest was recorded in the North-West at N1,411.16.
The South-west recorded the highest average price of 1kg of Yam tuber at N 2,745.80, followed by the North-Central at N2,440.35, while the lowest was record-ed in the North-west at N 1,238.49. The South-west and the North-East recorded the highest average price of 1kg of Garri White sold loose at N 1,199.62 and N 1,155.63, respectively, while the lowest was recorded in the North- Central at N 1,055.87.
Nigerians are facing difficult times that is even exposing many families to acute starvation following the skyrocketing food inflation which in June was reported to have hit 40.87 per cent.
In May 2024, the National Bureau of Statistics (NBS) reported that the national average of the cost of a healthy diet ( CoHD), was N1,041 per adult per day, an amount most families can I’ll afford.