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Food prices spike in April 2024 - NBS report reveals

The average price of 1kg of local rice increased by 155.93% from ₦546.76 recorded in April 2023 to ₦1, 399.34 in April 2024.

Food prices spike in April 2024 -  NBS report reveals (Premium Times Nigeria)

The NBS said this in its Selected Food Prices Watch report for April 2024 released in Abuja on Friday. The report said that the average price of 1kg of local rice increased by 155.93% from ₦546.76 recorded in April 2023 to ₦1, 399.34 in April 2024.

“On a month-on-month basis, 1kg of local rice increased by 3.47% in April from the ₦1, 340.74 recorded in March 2024.”

It said that the average price of 1kg of white garri increased by 134.98% on a year-on-year basis from ₦362.50 recorded in April 2023 to ₦851.81 in April 2024.

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On a month-on-month basis, 1kg of white garri increased by 13.59% from the ₦749.89 recorded in March 2024.”

The report said that the average price of 1kg of tomato increased by 131.58% on a year-on-year basis from ₦485.10 in April 2023 to ₦1, 123.41 in April 2024.

“On a month-on-month basis, the price increased by 17.06% from the ₦959.68 recorded in March 2024.”

The NBS said that the average price of 1kg of brown beans rose by 125.43% on a year-on-year basis from ₦615.65 in April 2023 to ₦1387.90 in April 2024.

“On a month-on-month basis, 1kg of brown beans increased by 12.44% from ₦1, 234.40 recorded in March 2024 to ₦1,387.90 in April 2024."

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In addition, the average price of 1kg of yam tuber rose by 154.19% on a year-on-year basis from ₦444.69 recorded in April 2023 to ₦1,130.37 in April 2024.

“On a month-on-month basis, it increased by 5.76%% from ₦1, 068.78 recorded in March 2024 to ₦1, 130.37 in April 2024.”

On state profile analysis, the report showed that in April 2024, the highest average price of 1kg of local rice was recorded in Niger at ₦1,785.47, while the lowest was recorded in Benue at ₦993.72. It said that Bayelsa recorded the highest average price of 1kg of white garri at ₦1, 095.26, while the lowest was recorded in Benue at N494.47.

The NBS said that the highest average price of 1kg of tomato was recorded in Delta at ₦1, 851.19, while the lowest price was recorded in Zamfara at ₦547.22. According to the report, Abuja recorded the highest average price of 1kg of brown beans at ₦2, 288.36, while the lowest was reported in Yobe at ₦818.03.

It said Cross River recorded the highest average price of 1kg of yam tuber at ₦1,797.15, while the lowest average price was recorded in Bauchi at ₦638.64. Analysis by zone showed that the average price of 1kg of local rice was highest in the South-West at ₦1, 615.21, followed by the South-South at ₦1, 564.85.

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“The lowest price was recorded in the North-West at ₦1, 163.13.”

The South-South and South-West recorded the highest average price of 1kg of white garri at ₦1,031.19 and ₦982.42, respectively, while the lowest price was in the North-West at ₦681.77.

The report said that the South-South recorded the highest average price of 1kg of tomato at ₦1, 689.40 followed by the South-West at ₦1,429.06, while the North-West recorded the lowest price at ₦615.54.

The NBS said also that the North-Central and South-South recorded the highest average price of 1kg of brown beans at ₦1,594.84 and ₦1,579.64, respectively.

“The North-West recorded the lowest price of 1kg of brown beans at ₦966.9.”

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