May 26, (THEWILL) – The National Bureau of Statistics has indicated that selected food prices recorded an increase of 42 percent in one year.
The recent report titled, “Selected Food Price Watch for the month of April 2022”, showed that the average price of 1kg of beans (white, black eye, sold loose), rose on a year-on-year basis by 44.32 percent, from N359.64 in April 2021 to N519.05 in April 2022.
In the same vein, the average price of 1kg of yam tuber on a year-on-year basis rose by 42.88 percent, from the value recorded in April 2021 (N252.80) to N361.20 in April 2022. On a month-on-month basis, it increased from N353.56 in March 2022 to N361.20 in April 2022, indicating 2.16 percent growth.
Similarly, the report also stated that the average price of palm oil (1 bottle) increased by 45.59 percent, from N578.86 in April 2021 to N842.75 in April 2022. It also grew by 0.06 percent on a month-on-month basis.
Stating further, the report, showed that the average price of 1kg of plantain (unripe) rose by 38.66 percent on a year-on-year basis, from N243.37 in April 2021 to N337.47 in April 2022.
Also, according to the report, the average price of groundnut oil (bottle) stood at N1,007.68 in April 2022, showing an increase of 46.21 percent from N689.19 in April 2021.
On a month-on-month basis, it rose by 1.31 percent from N994.62 in March this year.
About the Author
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
