In July 2024, the prices of 1 kilogram (kg) of beans, tomatoes, and a dozen medium-sized agric eggs surged by over 200 percent compared to the same period last year.
The National Bureau of Statistics (NBS) reported in its Food Price Watch for July 2024 that the cost of 1 kg of brown beans (sold loose) soared by 262.98 percent year-on-year (YoY) to N2,444.81, up from N673.53 in July 2023.
Similarly, the price of 1 kg of tomatoes rose by 203.57 percent YoY, reaching N1,693.83 in July 2024 from N557.96 in July 2023.
The average price of 1 kg of yam tuber also jumped by 234.23 percent to N1,802.84 in July 2024, compared to N539.41 in July 2023.
Additionally, the price of a dozen medium-sized agric eggs increased by 155.5 percent YoY to N2,170.17 in July 2024, up from N1,006.64 in July 2023.
The NBS noted: “The Selected Food Price Watch for July 2024 shows that the average price of 1 kg of brown beans (sold loose) was N2,444.81, reflecting a 262.98 percent YoY increase from N673.53 in July 2023 and a 6.63 percent month-on-month (MoM) rise from N2,292.76 in June 2024.
“Agric eggs (medium size, 12 pieces) saw a significant price rise, reaching N2,170.17 in July 2024, compared to N1,006.64 in July 2023.
On a MoM basis, the price of eggs increased by 12.11 percent from N1,935.69 in June 2024.
“Tomato prices (1 kg) rose by 203.57 percent YoY, from N557.96 in July 2023 to N1,693.83 in July 2024. However, on a MoM basis, tomato prices dropped by 26.43 percent from N2,302.26 in June 2024.
“The average price of 1 kg of white garri (sold loose) climbed by 167.98 percent YoY, from N429.89 in July 2023 to N1,151.79 in July 2024, with a 1.43 percent MoM increase.
“Similarly, the average price of 1 kg of yam tuber increased by 234.23 percent YoY, rising from N539.41 in July 2023 to N1,802.84 in July 2024. On a MoM basis, it decreased by 10.82 percent, from N2,021.55 in June 2024 to N1,802.84 in July 2024.”
The NBS further stated that, in July 2024, Rivers State recorded the highest average price for 1 kg of brown beans (sold loose) at N3,070.96, while the lowest was in Adamawa State at N1,532.23.
“The highest average price for 1 kg of tomatoes was found in Osun State at N3,000, while Kaduna State had the lowest at N761.45.
“Kwara State had the highest average price for 1 kg of yam tuber at N3,894.08, while Adamawa recorded the lowest price at N742.95.
“Gombe reported the highest average price for 1 kg of white garri (sold loose) at N1,624.72, with the lowest in Taraba at N892.98.”
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