Food prices in Nigeria jumped by 31% in 12 months from July 2022 to July 2023, with Ebonyi and Abia state recording the highest increases, according to the National Bureau of Statistics.

The selected food items monitored by the NBS include rice, beans, bread, tomatoes, beef, wheat, garri, and palm oil.

According to an analysis of the ‘Selected Food Price Watch,’ a report published monthly by the NBS, the highest food price increase was recorded in the price of yam, which jumped by 42% from N389.75 to N539.41. This was closely followed by the price of rice, which increased by 33% from N467.80 to N653.49.

Other staple foods that contributed to the food price hike include garri (1kg), which increased by 33%, and palm oil (1 bottle), which increased by 35%.

The NBS report also showed that South-Eastern states, led by Abia and Ebonyi, recorded the highest food prices during the twelve-month period. On the other hand, states within the North Central (Kogi, Niger, Benue) recorded the lowest food prices.

The bureau attributed the food price hike to several factors, including insecurity, rising energy costs, and supply chain disruptions.

According to the most recent Consumer Price Index report released by the NBS, which assesses inflation, food inflation was pivotal in increasing headline inflation from 24.08 in July to 25.80 in August, with a food inflation rate of 29.34 percent in August.

The NBS explained that the year-on-year rise in food inflation was driven by price increases in categories such as oil and fat, bread and cereals, fish, fruit, meat, vegetables, potatoes, yam, and other tubers, as well as vegetables, milk, cheese, and eggs.