- The increment in June 2024 shows massive differential from their previous prices in the corresponding period of 2023
The prices of tomatoes, beans, garri and other staple food rose above 200 percent year-on-year.
The increment in June 2024 shows massive differential from their previous prices in the corresponding period of 2023.
The National Bureau of Statistics, NBS, made this known in its Selected Food Price Watch for June 2024 released on Wednesday.
According to data, price of tomatoes (1kg) increased Year-on-Year (YoY) by 320.67 percent to N2,302.26 in June 2024 from N547.28 in June of last year (2023).
Similarly, the price of 1kg beans brown (sold loose) stood at N2,292.76 indicating a rise of 252.13 percent YoY from N651.12 recorded in June 2023.
The report also indicated that the price of 1kg Irish potatoes grew by 288.5 percent to N2,423.27 in June 2024 from N623.75 in June 2023.
NBS stated: “Selected Food Price Watch for June 2024 shows that the average price of 1kg beans brown (sold loose) stood at N2,292.76. This indicates a rise of 252.13 percent in price on a YoY basis from N651.12 recorded in June 2023 and a 14.11 percent rise in price on a month-on-month basis from N2,009.23 in May 2024. “Tomatoes (1kg) experienced significant price increases year on year by 320.67 percent 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 percent from N 1,479.69 in May 2024.
“There was also a notable price increase of Irish potato by 288.5 percent 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 percent from N 1,595.07 in May 2024. Furthermore, the average price of 1kg Garri white sold loose went up by 181.66 percent 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 percent on a month-on-month basis.
“Also, the average price of 1kg of Yam tuber increased by 295.79 percent on a year-on-year basis from N510.77 in June 2023 to N 2,021.55 in May 2024.
“On a month-on-month basis, it increased by 52.87 percent from N 1,322.36 in May 2024 to N 2,021.55 in June 2024.”
The bureau noted that the highest average price of 1kg of Brown Beans (sold loose) was recorded in Kogi state at N 3,006.43 while the lowest was in Adamawa state at N1,336.11. The highest average price of 1kg of Tomato was recorded in Abuja at N 3,992.61 while the lowest was in Kebbi State at N1,200.00.
“Regarding the average price of 1kg of yam tuber, Lagos state recorded the highest price at N3,376.54, while Adamawa recorded the lowest price at N1100.00. “Gombe recorded the highest average price of 1kg Garri white sold loose at N1,619.27, while the lowest was reported in Taraba at N 900”, it added.
Discussion about this post