FOOD PRICE WATCH: AVERAGE PRICE OF 1KG OF YAM TUBER INCREASED BY 4.19% IN MAY – NBS

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The average price of imported rice increased by 1.43% in May, the National Bureau of Statistics, NBS, has said.

The NBS, in its “Selected Food Price watch data for May 2018” released on Tuesday in Abuja, noted that one kilogram (1kg) was sold for N374.63 in May 2018 from N369.35 in April.

According to the report, the average price of 1 dozen of Agric eggs medium size increased year-on-year by 4.96% and decreased month-on-month by -0.62% to N548.66 in May 2018 from N552.09 in April 2018 while the average price of piece of Agric eggs medium size(price of one) decreased year-on-year by -8.68% and month-on-month by -1.14% to N41.77 in May 2018 from N42.25 in April 2018.

Read: INFLATION DROPS TO 11.61% IN MAY 2018; 0.87% LOWER THAN APRIL 2018 RATE

The average price of 1kg of tomato decreased year-on-year by -9.59% and increased month-on-month by 6.10% to N307.14 in May 2018 from N289.49 in April 2018.
It further stated that the average price of 1kg of rice (imported high quality sold loose) decreased year-on-year by -8.75% and increased month-on-month by 1.43% to N374.63 in May 2018 from N369.35 in April.

Similarly, the average price of 1kg of yam tuber increased year-on-year by 4.36% and month-on-month by 4.19% to N291.33 in May 2018 from N279.61 in April 2018.

In May 2018, food inflation on a year on year basis was highest in Yobe (15.86%), Kebbi (15.62%) and Jigawa (15.56%), while Kogi (8.54%), Benue (9.93%) and Akwa Ibom (11.13%) recorded the slowest rise in food inflation.

On month on month basis however, May 2018 food inflation was highest in Taraba (2.80%), Adamawa (2.38%) and Enugu (2.36%), while Kogi, Oyo and Ekiti all recorded food price deflation or negative inflation (general decrease in the general price level of goods and services or a negative inflation rate) in May 2018.  

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