The National Bureau of Statistics has reported a dramatic rise in food prices in June 2024 compared to the same month in 2023.
Prices for key staples like tomatoes, beans, and garri increased by over 200% year-on-year.
The NBS Selected Food Price Watch, released today, shows that the price of 1 kilogram of tomatoes soared by 320.67%, reaching N2,302.26 in June 2024 from N547.28 a year earlier.
The price of 1 kilogram of brown beans, sold loose, also saw a significant increase of 252.13%, rising to N2,292.76 from N651.12. Similarly, 1 kilogram of Irish potatoes jumped by 288.5%, climbing to N2,423.27 from N623.75.
NBS spokesperson said, “Selected Food Price Watch for June 2024 shows that the average price of 1 kilogram of brown beans (sold loose) stood at N2,292.76. This indicates a rise of 252.13% in price on a year-on-year basis from N651.12 recorded in June 2023 and a 14.11% rise in price on a month-on-month basis from N2,009.23 in May 2024.”
The spokesperson continued, “Tomatoes (1kg) experienced significant price increases year on year by 320.67% from N547.28 in June of last year to N2,302.26 in June 2024. On a month-on-month basis, the average price of this item rose by 55.59% from N1,479.69 in May 2024.”
“There was also a notable price increase of Irish potatoes by 288.5% 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% from N1,595.07 in May 2024.”
The report also highlighted that the price of 1 kilogram of garri white, sold loose, rose by 181.66% year-on-year, from N403.15 in June 2023 to N1,135.51 in June 2024. On a month-on-month basis, the price increased by 1.86%.
The average price of 1 kilogram of yam tuber also saw a significant rise, increasing by 295.79% year-on-year from N510.77 in June 2023 to N2,021.55 in June 2024. On a month-on-month basis, it grew by 52.87% from N1,322.36 in May 2024.
NBS noted regional variations in prices, with the highest average price of 1 kilogram of beans recorded in Kogi State at N3,006.43, and the lowest in Adamawa State at N1,336.11. For tomatoes, the highest price was in Abuja at N3,992.61, while the lowest was in Kebbi State at N1,200.00.
The highest price for 1 kilogram of yam tuber was recorded in Lagos State at N3,376.54, while the lowest was in Adamawa State at N1,100.00.
Gombe State had the highest average price for 1 kilogram of garri white at N1,619.27, and Taraba State had the lowest at N900.
