The National Bureau of Statistics (NBS) revealed yesterday that food prices continued to surge in April, with five basic food items experiencing a significant 140.4% Year-on-Year (YoY) increase during the month.
These five food items include local rice, garri white, tomatoes, beans brown, and yam.
According to the NBS Selected Food Price Watch for April 2024, the average price of 1kg of local rice sold loose stood at N1,399.34, marking a substantial 155.93% YoY increase from N546.76 in April 2023 and a 3.47% increase from N1,340.74 in March 2024.
Similarly, the average price of 1kg of garri white saw a 134.98% YoY increase from N362.50 in April 2023 to N851.81 in April 2024, with a 13.59% increase from N749.89 in March 2024.
Tomatoes experienced a YoY increase of 131.58%, with the average price of 1kg rising from N485.10 in April 2023 to N1,123.41 in April 2024, and a month-on-month increase of 17.06%.
Additionally, the average price of 1kg of beans brown rose by 125.43% YoY, from N615.67 in April 2023 to N1387.90 in April 2024, with a 12.44% increase month-on-month.
Furthermore, the average price of 1kg of yam tuber surged by 154.19% YoY, increasing from N444.69 in April 2023 to N1,130.37 in April 2024, and by 5.76% month-on-month.
The NBS report highlights the significant challenges posed by escalating food prices, urging measures to address this concerning trend.
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