Home News NBS Data Shows Prices Of Beans, Rice, Yam, Eggs, and Garri Still Moving Up Despite July Inflation Drop
News

NBS Data Shows Prices Of Beans, Rice, Yam, Eggs, and Garri Still Moving Up Despite July Inflation Drop

560
According to data from the National Bureau of Statistics showed that key food items such as beans, rice, yam, eggs, and garri continued to increase in prices despite a general decline in inflation for July 2024.

According to data from the National Bureau of Statistics, essential food items such as beans, rice, yam, eggs, and garri have continued to increase in prices despite a general decline in inflation for July 2024.

In its latest ‘Selected Food Prices Watch’ report, the NBS found that despite a general decline in inflation, some major foodstuffs experienced steep price increases.

This noticed a magnitude in the average price of 1kg of brown beans, sold at N2,444.81 in July 2024, indicating 262.98 per cent year-on-year growth from N673.53 compared to July 2023. Meanwhile, month-on-month, prices gained 6.63 per cent from N2,292.76 in June 2024.

It also pegged the price of a dozen medium-sized agric eggs at N2,170.17 for July 2024 from N1,006.64 for July 2023 and N1,935.69 for June 2024, month-on-month, with 12.11 per cent.

It also showed that the price of 1kg of tomatoes recorded a year-on-year increase of 203.57 per cent, from N557.96 in July 2023 to N1,693.83 in July 2024. On a month-on-month basis, it had fallen by 26.43 per cent from N2,302.26 in June 2024.

Another related food item, garri, also recorded a sharp increase in selling price. The commodity witnessed a 167.98 per cent year-on-year increase, as one kilogram of white garri sold for N1,151.79 in July from N429.89 in July 2023. On a month-on-month basis, it increased slightly.

Also, yam prices jumped and are increasing as the average price of 1kg of yam tuber increased year-on-year by 234.23 per cent from N539.41 in July 2023 to N1,802.84 in July 2024. However, yam prices fell by 10.82 per cent monthly, down from N2,021.55 in June 2024.

Over time, food inflation has been one of Nigerians’ struggles. The increasing food prices, which lead to an increase in the cost of living, have left many Nigerians complaining about the government’s policies and the state of the nation.

Read More:

About The Author

Related Articles

NewsTravel

Chad Suspends Visas for US Citizens in Response to Trump’s Recent Travel Ban

Chad has announced the suspension of visa issuance to United States citizens,...

FinanceNews

Ghana Places INTERPOL Red Notice on Former Finance Minister Ofori-Atta

Interpol has issued a Red Notice for Ghana’s former finance minister, Ken...

Seyi Tinubu flying presidential jet
News

Tinubu’s Silence on Son’s Use of Presidential Jet Draws Contrast with Mongolian PM’s Resignation

President Bola Tinubu has been criticised over the apparent misuse of state...

Umo Join APC
NewsPolitics

Akwa Ibom Governor Eno Dumps PDP Following West Africa Weekly’s Report

Governor Umo Eno of Akwa Ibom State has officially dumped the Peoples...