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NBS Reveals Increased in Prices of Food Items From August 2020

The National Bureau of Statistics (NBS) has said the prices of some selected food items increased in August.

The NBS made this known in its data in August 2020 on ‘Selected Food Price Watch’.

According to the bureau, the average price of 1kg of tomato increased yearly by 29.48% and decreased monthly by  -4.65% to N 289.86 in August 2020 from N 304.01 in July 2020.

One dozen of ‘agric’ medium-sized eggs increased from August 2019 to August 2020 by 3.70%, while it increased between July and August by 1.02%

The Bureau also said that the average price of an ‘agric’ medium size egg (per one) has increased by 5.44% from August 2019 to August 2020. The price increased between July and August by 0.76%

NBS also said the average price of 1kg of rice (imported high quality sold loose) increased yearly by 40.69% and monthly by 2.30% that is, from N 490.44 in July 2020 to N 501.71 in August 2020

Similarly, the average price of 1kg of yam tuber increased every year by 34.74% and decreased monthly by -0.15% to N 256.06 in August 2020 from N 256.44 in July 2020.

The NBS revealed the method of its data collection to include the collation of prices of food items from all the 774 local government areas of the country and the FCT from over 10,000 respondents and, “locations which reflect actual prices households in states actually bought those items”.

The outcome of its survey on all the prices has been reported for each state of the federation and the average for the country is the average for the states.

Finally, the NBS said fieldwork was done independently by over 700 NBS staff across the states of the federation “with support from supervisors who are monitored by internal and external observers”.

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