NBS: Prices of bread, beans, yam increased in August | South-south residents paid more

The National Bureau of Statistics (NBS) says prices of beans, bread, yam, rice and other food items increased in August 2024.

In its ‘Selected Food Prices Watch’ report for August on Wednesday, NBS said the average price of 1 kilogram (kg) of brown beans (sold loose) stood at N2,574.63.

On a year-on-year basis, NBS said the price increased by 271.55 percent, when compared to the N692.95 recorded in August 2023.

Also, the price increased by 5.31 percent on a month-on-month basis from N2,444.81 in July 2024.

The bureau said the price of medium-sized agric eggs (12 pieces) increased by 121.92 percent on a year-on-year basis from N1,031.55 recorded in August 2023 to N2,289.19 in the same month this year.

“On a month-on-month basis, the average price of this item rose by 5.48% from N 2,170.17 in July 2024,” the NBS said.

The report said the average price of sliced bread increased by 113.16 percent on a year-on-year basis to N1,459.85 in August, compared to the N684.85 reported in the same period in 2023.

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

The NBS said the average price of 1kg of local rice rose by 148.41 percent on a year-on-year basis from N737.11 recorded in August 2023 to N1,831.05 in August 2024.

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

The bureau said the average price of 1kg of a tuber of yam increased by 188.31 percent on a year-on-year basis from N576.39 in August 2023 to N1,661.80 in August 2024.

However, NBS said on a month-on-month basis, the price decreased by 7.82 percent from the N1,802.84 recorded in July.

Also, the bureau said the average price of 1kg of tomato increased on a year-on-year basis by 171.72 percent from N554.37 recorded in August 2023 to N1,506.35 in August 2024.

“However, on a month-on-month basis, the average price of 1kg of tomato declined by 11.07 percent from N1,693.83 in July 2024 to N1,506.35 in August,” the NBS said.

STATE PROFILE ANALYSIS

The bureau said the highest average price of 1kg of brown beans in August 2024 was recorded in Akwa Ibom at N3,276.79, while the lowest was reported in Adamawa at N1,710.92.

According to the NBS, Niger recorded the highest average price of medium size agric eggs (12 pieces) at N2,996.92, while the lowest was recorded in Jigawa at N1,786.01.

The bureau said the highest average price of sliced bread was recorded in Rivers at N1,850, while the lowest price was reported in Yobe at N908.81.

Also, Kogi recorded the highest average price of 1kg local rice at N2,680.29, while the lowest was reported in Benue at N1,206.84.

The report said the highest price of 1kg of tomato was reported in Abuja at N2,2206.31, while the lowest price was recorded in Kaduna at N734.94.

Analysis by zone showed that the average price of 1kg of brown beans was highest in the south-south at N3,165.11, followed by the north-central at N2,900.86.

“The lowest price was recorded in the North-West at N1,982.78,” the NBS said.

The bureau said the north-central and south-east recorded the highest average price of medium size agric eggs (12 pieces) at N2,789.15 and N2,438.06, respectively, while the lowest price was recorded in the north-west at N1,963.65.

According to NBS, the south-south recorded the highest average price of sliced bread at N1,785.56, followed by the south-east at N1,635.73, while the north-east recorded the lowest price at N1,163.78.

NBS said the south-west and the south-south recorded the highest average price of 1kg of local rice at N1,960.87 and N1,886.32 respectively, while the north-west recorded the lowest price of 1kg of local rice at N1,591.21.