Prices of food items record mixed movements

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Rice, egg increase, while yam, tomato drop

By Elizabeth Adegbesan



Despite the drop in food inflation in January 2019, some food items recorded increases on year-on-year, YoY, bases, though some others were much in line with the inflation trend down.

The National Bureau of Statistics (NBS) latest report on ‘Selected Food Price Watch’ showed that the price of rice (imported high quality) increased YoY by 1.46 percent.

However, on monthly basis, the price of 1kg of rice dropped by 1.22 percent to N366.04 in January 2019 from N370.57 in the preceding month.

It also showed that the price of a dozen of agric eggs (medium size) increased (YoY) by 7.49 percent to N469.86 in January 2019 from N437.13 in January 2018 and MoM by 0.62 percent to N42.182 from N38.85 in December 2018.

The report reads: “Selected food price watch data for January 2019 reflected that the average price of one dozen of agric eggs medium size increased YoY by 7.49 percent and month-on month (MoM) by 0.62 percent to N469.85 in January 2019 from N466.97 in December 2018.

“The average price of 1kg of tomato decreased YoY by 2.39 percent and MoM by 2.22 percent to N265.49 in January 2019 from N271.51 in December 2018.

“The average price of 1kg of rice (imported high quality sold loose) increased YoY by 1.46 percent and decreased MoM by 1.22 percent to N366.04 in January 2019 from N370.57 in December 2018.

“Similarly, the average price of 1kg of yam tuber decreased YoY by 6.75 percent and MoM by 0.68 percent to N211.21 in January 2019 from N212.65 in December 2018”.

In its latest Inflation report, the bureau had stated: “The composite food index rose by 13.51 percent in January 2019 compared to 13.56 percent in December

This rise in the food index was caused by increases in prices of fish, bread and cereals, vegetables, meat, fruits, potatoes, yam and other tubers, oils and fats, soft drinks”.
Anambra State recorded the highest price of a dozen of agric egg (medium size) at N551.17 and a piece at N50.01 while Gombe had the lowest price of a dozen of agric egg (medium size) at N412.27 and a piece at N37.58.

On imported high quality rice sold loose, Bayelsa State recorded the highest price at N507.14, while Kastina State had the lowest price at N264.91.

State with the highest price on a tuber of yam was Ogun (N315.38) while Taraba had the lowest price (N102.33). Consumers in Lagos paid the highest price for 1kg of tomatoes at N466.67, while those in Kano paid the lowest price at N127.07.

Source:https://samueljackson12.blogspot.com/2019/02/prices-of-food-items-record-mixed.html

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