The prices of essential food items such as beans, garri, and eggs have increased both on a month-on-month and year-on-year basis, reflecting the ongoing economic challenges.
According to the National Bureau of Statistics (NBS) in its latest food price report for July 2024, there has been a significant rise in the cost of these items.
The report indicates that the price of 1 kilogram of brown beans surged by 262.98% on a year-on-year basis, reaching N2,444.81 in July 2024, compared to N673.53 in July 2023. On a month-on-month basis, the price of beans also rose by 6.63%, up from N2,292.76 in June 2024.
Similarly, the price of a dozen medium-sized agricultural eggs saw a sharp increase of 92.3% year-on-year, climbing to N1,935.69 in July 2024, up from N1,006.64 in July 2023.
These price hikes highlight the growing cost of basic food items, contributing to the economic strain on households.
