Top 10 States With Highest Cost of Food As Bread, Yam Others Get More Expensive
- Kogi and Kwara have once again made the list of states in Nigeria with the most expensive food costs
- New data shows that the prices of food items have significantly increased by 35.41% year-on-year
- These figures indicate the struggles of Nigerian households to feed and survive on a monthly basis
Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy.
The National Bureau of Statistics (NBS) has revealed that the food inflation rate in January 2024 was 35.41% on a year-on-year basis.
This is 11.10% points higher when compared to the 24.32% food inflation rate recorded in the corresponding period of January 2023.
The statistics body disclosed this in its consumer price report for January 2024 published on its website.
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Breakdown of state food price changes
The report showed that increases in prices of bread and cereals, potatoes, yam and other tubers, oil and fat, fish, meat, fruit, coffee, tea, and cocoa caused the rise in food inflation.
Part of the report reads:
"Food inflation on a year-on-year basis was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, oil and fat, fish, meat, fruit, coffee, tea, and cocoa. "On a month-on-month basis, the food inflation rate in January 2024 was 3.21%, which was 0.49% higher compared to the rate recorded in December 2023 (2.72%). "The rise in the food inflation on a month-on-month basis was caused by a rise in the rate of increase in the average prices of potatoes, yam & other tubers, bread and cereals, fish, meat, tobacco, and vegetables."
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Here are the top 10 states with the highest food inflation
- Kogi - 44.18%
- Kwara - 40.87%
- Ekiti - 39.63%
- Ondo - 39.59%
- Akwa Ibom - 39.96%
- Imo - 39.92%
- Osun - 39.72%
- Ebonyi - 39.14%
- Abia - 39.58%
- Delta - 38.94%
We won't establish price control board - Tinubu
Earlier, Legit.ng reported that President Tinubu said his administration will not set up any board to regulate the prices of food commodities in the country.
The president's comments come days after Vice President, Kashim Shettima, hinted at plans to establish a national commodity board to tackle the escalating food inflation in Nigeria.
Tinubu stated that his administration would not set up any such board.
Source: Legit.ng
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