With Christmas around the corner, the cost of tomatoes has skyrocketed by 19.48% in just one month, hitting the wallets of consumers across Nigeria.
According to the National Bureau of Statistics’ food price watch for October, the average price for 1kg of tomatoes spiked from N565.69 to N675.91.
Between October 2022 and October 2023, tomato prices surged by 48.73%, reaching as high as N1,344.13 per kg in Bayelsa and as low as N341.95 in Kwara.
Rice prices followed suit, witnessing a 68.10% year-on-year increase, going from N487.47 in October 2022 to N819.42 in October 2023.
Additionally, boneless beef prices experienced a 30.08% year-on-year rise, reaching N2,948.03 per kg in October 2023, while loose white Gari also faced a 63.68% year-on-year increase, with prices climbing from N317.90 to N520.35 in October 2023.
Also learned by Quest Times was that in a state-by-state analysis, Edo State saw the highest average price for 1kg of locally sold loose rice at N1,044.17, while Zamfara reported the lowest at N660.79.
Imo State led in the average price of brown beans at N1,095.84, and Taraba reported the lowest at N550.59. Anambra topped the list for boneless beef at N3,831.48, with Kogi having the lowest at N2,362.50.
Also, Delta State recorded the highest average price for 1kg of loose white Gari at N759.29, while Kogi State reported the lowest at N390.81.
It is important to note that food prices have been steadily increasing over the past few months in Nigeria. The latest inflation report from the NBS reveals an overall food inflation rate of 31.5%, with a month-on-month increase of 1.91%, slightly lower than the 2.45% recorded in October.
In light of this, consumers should be prepared for these rising costs as they prepare for the festive season.