Prices of beans, egg, tomato rises by over 200 percent in one year – NBS

A report by the National Bureau of Statistics (NBS) has stated that prices of beans, tomato and egg rose significantly in the past 12 months, recording over 200 per cent increase.

The report, termed ‘Selected Food Price Watch for July 2024’, shows that the average price of 1kg beans brown (sold loose) stood at N2,444.81, a 262.98% increase from N673.53 recorded in July 2023 and a 6.63% rise in price on a month-on-month basis from N2,292.76 in June 2024.

For medium-sized agric eggs (12 pieces), it was said that the increase was 217%, from N1,006.64 in July of last year to N 1,935.69 in June 2024. On a month-on-month basis, the average price of this item rose by 12.11% from N1,935.69 in June 2024.

“There was also a notable price increase of Tomato 1kg by 203.57% on a year-on year basis from N557.96 in July 2023 to N1,693.83 in July 2024. On a month-on-month basis, it decreased by -26.43% from N2,302.26 in June 2024,” it said.

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It went on to state that the average price of 1kg garri, white, sold loose went up by 167.98% from N429.89 to N1,151.79 in July 2024, while the average price of 1kg of yam tuber increased by 234.23% from N539.41 to N1,802.84 in July 2024. Though, there was a reduction in the price on month-on-month by -10.82% from N2,021.55 in June 2024 to N 1,802.84 in July 2024.

For states, it noted that the highest average price of 1kg of bean brown (sold loose) was recorded in Rivers State at N3,070.96 while the lowest was in Adamawa State at N1,532.23. The highest average price of 1kg of tomato was recorded in Osun at N 3,000 while the lowest was in Kaduna State at N761.45.

For 1kg of yam tuber, Kwara State recorded the highest price at N 3,894.08, while Adamawa recorded the lowest price at N742.95. Gombe recorded the highest average price of 1kg Garri white sold loose at N1,624.72, while the lowest was reported in Taraba at N892.98.