Food prices increased by 44.3% in last 12 months- NBS

• Prices of essential items surged higher in S’East, S’South

The National Bureau of Statistics (NBS) has declared that the prices of selected food items have increased in the last 12 months.

This is according to the NBS selected food price watch report for April 2022 released in Abuja at the weekend.

The report showed that the average price of 1kg of beans rose on a year-on-year basis by 44.32 per cent from N359.64 in April 2021 to N519. 05 in April 2022.

Also, the prices increased on a month-on-basis by 2.59 per cent to N505.94 in March 2022.

The report revealed that the average price of a 500kg sliced bread increased on a year-on-year basis by 35.31 per cent from N332.95 in April 2021 to N405.51 in April 2022.

“On a month-on-month basis, the average price of the items increased by 0.61 per cent in April 2022,” the statement added.

Similarly, it said the average price of 1kg tuber of yam on a year-on-year basis rose by 42.88 per cent from the value recorded in April 2021 at N252.80 to N361.20 in April this year.

It said month-on-month basis, it increased from N353.56 in March 2022 indicating 2.6 per cent growth.

In the same vein, the report revealed that the average price of a bottle of palm oil increased by 45.59 per cent from N578.86 in April 2022, rising by 0.06 per cent on a month-on-month basis.

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The report indicated that the average price 1kg unripe plantain rose by 38.66 per cent on a year-on-year basis from N243.37 in April 2021 to N337.37 in April 2022.

It added that the average price of a bottle of vegetable oil stood at N1,007.68 in April 2022, an increase of 46,21per cent from N689.19 in April last year.

On a month-on-month basis, it rose by 1.31 per cent from N994 .62 in March 2022.

The report also disclosed that at the state level, Ebonyi recorded the highest average increase in the price of beans, as a module was sold for N8,757, while Borno State reported the least price adjustment in beans at N565.67.

It said the highest average price of 500kg sliced bread was recorded in Ebonyi at N650.0, while the lowest was recorded in Borno at N262.38.

The report showed that Akwa-Ibom recorded the highest price increase of 1kg tuber of yam at N695.93, while Bauchi recorded the lowest at N133.28.

Analysis by zone showed that the South East recorded the highest average price of beans, as it was sold for N831.09 followed by the South-South at N676.13, while the North East recorded the least at N307.21.

Similarly, the South East recorded the highest average price increment of sliced bread at N500 and N601.09 followed by the South-South at N550.2 1, while the lowest was recorded in the North East at N279.51.

The report also showed that the average price of 1kg of yam was higher in the South West and the South-South at N528.78 and N495.02, while the North East recorded the lowest at N142.79.

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