At the backdrop of significant reductions recorded in the prices of some food commodities since last month, the prices of local rice, beans, egg and bread have remained on steady increases.
The Nigerian Bureau of Statistics, NBS, in its report titled “Selected Food Price Watch for August 2024”, released yesterday, said the commodities recorded between 2.5 and 5.5 per cent price rises in the month of August.
The report stated: “The average price of 1kg beans brown (sold loose) stood at N2,574.63. This indicates a 5.31 percent rise in price on a Month-on-Month, MoM, basis from N2,444.81 in July 2024. “On a MoM basis, the average price of Agric eggs medium size (12 piece) rose by 5.48 percent to N2,289.19 from N 2,170.17 in July 2024.
“On a MoM basis, bread (sliced) increased by 2.28 percent to N1,459.85 from N 1,427.25 in July 2024. Furthermore, the average price of 1kg Local rice sold loose went up by 3.65 percent to N1,831.05 in August 224 from N1,766.64 in July 2024 on a MoM basis.”
According to the Bureau, the prices of these food items increased by over 100 percent year-on-year.
