Prices of beans, tomato, yam rise above 200% in July

The prices of 1 kilogram (kg) of beans, tomatoes and 12 pieces of agric medium sized eggs rose above 200 percent year-on-year in July 2024.

The National Bureau of Statistics(NBS) disclosed this in its latest selected food price watch for July 2024.

A specific breakdown of the report showed that 1 kilogram of brown beans rose by 262.98 percent to N2,444.81 on a year-on-year basis in July 2024 from N673.53 last year.

This is as beans also recorded 6.63 percent rise in price on a month-on-month basis from N2,292.76 in June 2024.

Also, agric eggs medium size (12 pieces) experienced significant price increases year on year by 92.3 percent to N1,935.69 in July 2024 from N 1,006.64 in July of last year (2023) to June 2024.

On a month-on-month basis, the average price of the item rose by 12.11 percent from N1,935.69 in June 2024.

Furthermore, the average price of 1kg garri white went up by 167.98 percent on a year-on-year basis from N429.89 in July 2023 to N1,151.79 in July 2024, while there was an increase of 1.43 percent on a month-on-month basis.

Meanwhile, the prices of tomatoes and yams dropped on a month-on-month basis.

The price of tomatoes 1kg on a month-on-month basis decreased by -26.43 percent to N1,693.83 from N2,302.26 in June 2024. This is despite recording a 203.57 percent increase on a year-on-year basis from N557.96 in July 2023 to N1,693.83 in July 2024.

Similarly, the average price of 1kg of yam tuber decreased by -10.82% N1,802.84 from N 2,021.55 in June 2024.

This is as the yam increased by 234.23 percent on a year-on-year basis from N539.41 in July 2023 to N1,802.84 in July 2024.

The NBS July’s inflation report said headline and food inflation dropped to 39.53 percent and 33.44 percent from 40.87 percent and 34.19 percent in June 2024.