According to the National Bureau of Statistics, significant price hikes were observed in food items such as Beans, Tomatoes, Irish Potatoes, Garri, and Yam during June 2024.
This information was disclosed in the Selected Food Prices Watch report for June 2024, which was released in Abuja on Tuesday.
Highlighted in the report was the steep rise in the average price of 1kg of brown beans, which surged by 252.13% from N651.12 in June 2023 to N2,292.76 in June 2024.
Providing a month-on-month comparison, the report noted a 14.11% increase in the price of 1kg of brown beans in June from the previous month’s N2,009.23.
The report also revealed that the average price of 1kg of tomatoes rose by 320.67% year-on-year, jumping from N547.28 in June 2023 to N2,302.26 in June 2024.
On a month-on-month basis, the price of 1kg of tomatoes increased by 55.97% from N1,479.69 in May 2024.
In a similar trend, the average price of Irish potatoes saw a significant 288.50% increase year-on-year, climbing from N623.75 in June 2023 to N2,423.27 in June 2024.
Furthermore, the NBS reported an 181.66% year-on-year rise in the average price of 1kg of white Garri, escalating from N403.15 in June 2023 to N1,135.51 in June 2024.
On a month-on-month basis, 1kg of white Garri experienced a 1.86% increase from N1,114.72 in May 2024.
Moreover, the average price of 1kg of yam tuber surged by 295.79% year-on-year, soaring from N510.77 in June 2023 to N2,021.55 in June 2024.
Regarding regional differences, the report outlined that Kogi recorded the highest average price of 1kg of brown beans at N3,006.43, while Adamawa had the lowest at N1,336.11.
Abuja had the highest average price of 1kg of tomatoes at N3,992.61, with Kebbi recording the lowest at N1,200.
Lagos topped the list with the highest average price of 1kg of yam tuber at N3,376.54, while Adamawa had the lowest price at N1,100.
When it came to white Garri, Gombe reported the highest average price at N1,619.27, whereas Taraba had the lowest at N900.
Regional analysis indicated that the North-Central had the highest average price for 1kg of brown beans at N2,923.45, followed by the South-South at N2,630.03.
The South-West and South-East had the highest average prices of 1kg of tomatoes at N3,261.84 and N2,852.59, respectively, while the North-West had the lowest at N1,411.16.
South-West led with the highest average price of 1kg of yam tuber at N2,745.80, followed by the North-Central at N2,440.35, with the North-West having the lowest price at N1,238.49.
In terms of white Garri, the South-West and North-East reported the highest average prices at N1,199.62 and N1,155.63, respectively.
Recent efforts by the Federal Government to combat rising food prices include granting a 150-day duty-free import window for food commodities to ensure food security and lessen the impact of escalating prices.
This move involves the suspension of duty tariffs and taxes on the importation of specific food items like maize, cowpeas, wheat, and husked brown rice through land and sea borders.
However, experts recommend addressing broader issues such as insecurity, foreign exchange fluctuations, and rising transportation costs to establish sustainable solutions for soaring food prices and ensure food security.
(Source: News Agency of Nigeria)