Prices of staple foods in Nigeria increased to at least 40 percent in the last two months, a market survey by DAILY POST reports.
DAILY POST gathered that as of Monday, 11 February 2024, the prices of Rice, beans, garri, groundnut oil, tomatoes, and bread witnessed an astronomical increase of over 40 percent from December 2023 to February 2024.
The market survey by DAILY POST on Monday showed that the price of a 50kg bag of Rice increased to N65,000 from N35,000; Beans rose to N1,600 per mudu measurement from N800, 50kg bag of Garri increased to N39,500 from 22,000.
Also, a carton of Super Pack size of Noodles increased to N11,140 from N6,000, 25 litres of groundnut oil rose to N57,000 from N34,000.
Similarly, a crate of Eggs rose to N3,700 from N2,500 and a 50kg bag of Sugar increased to N85,000 from N40,000, a 900g loaf of bread rose to N1,200 from N600, Semovita 1kg to N1,400 from N900, Tomatoes small dustbin basket N4,000 from N1,500 the list is endless.
From the above, it is evident that foods such as Rice recorded 46.2 per cent, beans 50 per cent, Garri 45 per cent, groundnut oil 40 cent, Egg 32 per cent, Sugar 52.9 per cent, Bread 50 per cent, Indomie 46 per cent, Semovita 1kg 25 per cent, tomatoes small dustbin basket 62 per cent increments.
According to the National Bureau of Statistics, December’s consumer price index showed that food inflation rose to 33.93 per cent.
The development had resulted in Nigerians lamenting the high cost of living under President Bola Ahmed Tinubu.