Tomato prices increase by 19.48% in one month as Christmas draws near

Tomatoes

The average price of 1kg tomato increased by 19.48% on a month-on-month basis.

This is according to the National Bureau of Statistics food price watch for the month of October. The average cost of 1kg of tomato increase from N565.69 to N675.91.

Between October 2022 and October 2023, the price of tomato rose from N454.46 per kg to N675.91 representing a 48.73%.

Tomato was most expensive in Bayelsa selling at N1,344.13 per kg while it was least expensive in Kwara were one kg sold for N341.95.

Rice– Likewise, the year-on-year average price of 1kg of locally sold loose rice increased by 68.10%, climbing from N487.47 in October 2022 to N819.42 in October 2023. Additionally, on a month-on-month basis, there was an 8.24% increase.

Boneless beef– Similarly, the average price of boneless beef per 1kg reached N2,948.03 in October 2023. This represented a 30.08% year-on-year increase compared to the October 2022 figure of N2,266.24 and a 4.65% month-on-month increase from N2,816.91 in September 2023.

Gari- In the case of loose white Gari, the year-on-year average price surge was 63.68%, ascending from N317.90 in October 2022 to N520.35 in October 2023. On a month-on-month basis, the average price of this item rose by 11.21%, up from N467.89 in September 2023.

State analysis

Edo State registered the highest average price for 1kg of locally sold loose rice at N1,044.17, with the lowest reported in Zamfara at N660.79.

For 1kg of brown beans sold loose, Imo State had the highest price at N1,095.84, while Taraba reported the lowest at N550.59.

In terms of boneless beef, Anambra had the highest average price at N3,831.48, while Kogi had the lowest at N2,362.50.

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.

What you should know

Food prices have been increasing consistently in the past few months across Nigeria. The latest inflation report from the NBS puts food inflation at 31.5%. Although on a month-on-month basis, food inflation stood at 1.91% which is lower than the 2.45% recorded in October.