Prices of Eggs, Rice, Yam decrease in July – NBS

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The NBS, in its “Selected Food Price watch data for July 2018” released on Thursday in Abuja, noted that one kilogramme (1kg) of yam tuber was sold for N280.83 in July fromN285.84 in June.

The National Bureau of Statistics says the average price of 1 dozen of Agric eggs medium size decreased year-on-year by -5.36% and month-on-month by -12.60% to N471.75  in July 2018 from  N539.75 in June 2018 while the average price of piece of Agric eggs medium size(price of one) decreased year-on-year by -6.99% and month-on-month by -0.39% to N41.22 in July 2018 from N41.38  in June 2018.

It, however, stated that between June 2018 and July 2018, the average cost of 1kg of tomato increased month-on-month by 5.86% to N336.29 under review.

The NBS disclosed this in a Selected Food Price Watch Data for July made available to Brand Spur Nigeria.

The bureau said that the average price of 1kg of tomato decreased year-on-year by -14.68%.

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The report stated that the average price of 1kg of rice (imported high quality sold loose) decreased year-on-year by -9.39% and month-on-month by -0.72% to N370.79 in July 2018 from N373.47 in June 2018.

According to the report, the average price of 1kg of yam tuber decreased year-on-year by -4.52% and month-on-month by -1.75% to N280.83  in July 2018 from N285.84  in June 2018.

The National Bureau of Statistics (NBS) yesterday released the inflation rate for the month of Jun-18, with headline inflation easing to 11.14 per cent (year-on-year) in July 2018. This is 0.09 per cent points less than the rate recorded in June 2018 (11.23) per cent and represents an eighteenth consecutive disinflation in headline inflation year on year.

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In July 2018, food inflation on a year on year basis was highest in Abuja (15.85%), Bayelsa (15.75%) and Imo (15.46%), while Plateau (9.40%), Bauchi (10.44%) and Kano (10.50%) recorded the slowest rise in food inflation.

On month on month basis however, July 2018 food inflation was highest in Kwara (4.57%), Kaduna (3.99%) and Imo (3.44%), while Ogun (0.16%) and Osun (0.38%)recorded the slowest rise, Kogi recorded food price deflation or negative inflation (general decrease in the general price level of goods and services or a negative inflation rate) in July 2018.

The food sub-index increased by 1.40 percent in July 2018, down by 0.17 percent points from 1.57 percent recorded in June. This represents the first-time month on month food inflation has declined since February 2018.

Download July 2018 Selected Food Prices Watch Report

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