Selected Food Price Watch for August 2024 shows that the average price of 1kg beans brown (sold loose) stood at N2,574.63. This indicates a rise of 271.55% in price on a year-on-year basis from N692.95 recorded in August 2023 and a 5.31% rise in price on a month-on-month basis from N2,444.81 in July 2024. Agric eggs medium size (12 piece) experienced significant price increases year on year by N121.92% from N1,031.55 in August of last year (2023) to N2,289.19 in August 2024. On a month-on-month basis, the average price of this item rose by 5.48% from N 2,170.17 in July 2024. There was also a notable price increase of bread (sliced) by 113.16% on a year-on year basis from N684.85 in August 2023 to N1,459.85 in August 2024.

On a month-on-month basis, it increased by 2.28% from N 1,427.25 in July 2024. On the other hand, tomato 1kg declined by 11.07% month-on-month from N1,693.83 in July 2024 to N1,506.35. Furthermore, the average price of 1kg Local rice sold loose went up by 148.41% on a year-on-year basis from N 737.11 in August 2023 to N1,831.05 in August 2024, while there was an increase of 3.65% on a month-on-month basis. Also, the average price of 1kg of Yam tuber increased by 188.31% on a year-on-year basis from N576.39 in August 2023 to N1,661.80 in July 2024. On a month-on-month basis, it decreased by -7.82% from N1,802.84 in July 2024.

Data source: National Bureau of Statistics

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