NBS Reveals How Food Prices Spiked In October, Prices Highest In Kwara…

National Bureau of Statistics (NBS) has released a consumer price index (CPI) report on Monday as Food prices soared in October 2020.

According to its selected food price watch for the month of October, the average price of 1 dozen of Agric eggs medium size increased year-on-year (YoY) by 5.48% and month-on-month by 1.47% to N487.81 in October 2020 from N480.76 in September 2020.

Brandnewsday gathers that prices of food items hiked highest in Kwara, Edo and Sokoto State respectively in October.

In the released report, the survey stated that on a month on month basis, food price inflation was highest in Kwara at 3.88 per cent, Edo at 3.81 per cent and Sokoto at 3.65 per cent.

National Bureau of Statistics: Food Prices In Nigeria

On the other hand, Oyo at 0.57 per cent, Jigawa at 0.54 per cent and Taraba State at 0.29 per cent experienced the lowest rise in a month on month inflation.

The report said the food inflation on a year on year basis was highest in Edo at 21.65 per cent, Zamfara at 20.88 per cent and Kogi at 20.58 per cent, while Lagos at 14.57 per cent, Ogun at 14.47 per cent and Ondo at 14.23 per cent, recorded the lowest rise.

Also, the report revealed that the average price of a piece of Agric eggs medium size (the price of one) increased year-on-year by 7.92% and month-on-month by 1.92% to N43.72 in October 2020 from N42.90 in September 2020.

Similarly, the NBS stated that the average price of 1kg of tomato increased year-on-year by 31.81% and month-on-month by 7.22% to N307.63 in October 2020 from N286.92 in September 2020.

The average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 38.62% and month-on-month by 2.75% to N530.32 in October 2020 from N516.13 in September 2020.

Similarly, the average price of 1kg of yam tuber increased year-on-year by 35.11% and decreased month on month by -1.12% to N242.87 in October 2020 from N245.62 in September 2020.