Food prices rose ‘significantly’ in August – NBS

The National Bureau of Statistics (NBS) said on Wednesday that prices of beans, eggs, yam, and other food items rose significantly in August.

The NBS stated this in its Selected Food Prices Watch report for August 2024 released in Abuja.

The bureau noted that the average price of 1kg of brown beans increased by 271.55 percent from N692.95 in August 2023 to N2, 574.63 last month.

The report read: “On a month-on-month basis, 1kg of brown beans increased by 5.31 percent in August from the N2, 444.81 recorded in July 2024.”

“The average price of medium-sized Agric eggs (12 pieces) increased by 121.92 percent on a year-on-year basis from N1, 031.55 in August 2023 to N2, 289.19 in August 2024.

READ ALSO: Price of 5kg cooking gas increased to N6,430 in August- NBS

“On a month-on-month basis, the eggs increased by 5.48 percent from the N2,170.17 recorded in July 2024.”

The NBS revealed that the average price of sliced bread increased by 113.16 percent year-on-year from N684.85 in August 2023 to N1,459.85 last month.

“On a month-on-month basis, the price increased by 2.28 percent from the N1,427.25 recorded in July 2024.”

“In addition, the average price of 1kg of local rice rose by 148.41 percent year-on-year from N737.11 recorded in August 2023 to N1,831.05 in August.

“On a month-on-month basis, it increased by 3.65 percent from N1,766.64 recorded in July 2024.”

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