Food prices rise significantly in August – NBS

The National Bureau of Statistics (NBS) said on Wednesday that prices of beans, eggs, sweet potatoes and other food items rose significantly in August.

The NBS stated this in its Selected Food Price Monitoring report for August 2024 released in Abuja.

The bureau noted that the average price of 1kg of red beans increased by 271.55 percent from N692.95 in August 2023 to N2,574.63 last month.

The report reads: “On a monthly basis, 1 kg of red beans increased by 5.31 per cent in August from N2,444.81 recorded in July 2024.”

“The average price of medium-sized chicken eggs (12 eggs) increased by 121.92 percent annually from IDR 1,031.55 in August 2023 to IDR 2,289.19 in August 2024.

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“On a monthly basis, eggs increased by 5.48 per cent from N2,170.17 recorded in July 2024.”

NBS revealed that the average price of sliced ​​bread increased by 113.16 percent year-on-year from N684.85 in August 2023 to N1,459.85 last month.

“On a monthly basis, prices rose by 2.28 per cent from N1,427.25 recorded in July 2024.”

“In addition, the average price of 1 kg of local rice increased by 148.41 percent year-on-year from N737.11 recorded in August 2023 to N1,831.05 in August.

“On a monthly basis, it increased by 3.65 percent from N1,766.64 recorded in July 2024.”

Food prices rise ‘significantly’ in August – NBS first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.