Food inflation climbed to 37.92% in February 2024, according to Consumer Price Index report of the National Bureau of Statistics (NBS).
This represented a 13.57% increase from the 24.35% food inflation rate recorded in February 2023. In the month-to-month analysis, February 2024’s food inflation rate was 3.79%, showing a 0.58% rise from January 2024’s rate of 3.21%.
As Easter draws near, Nigerian households are facing steep prices for essential food items. A comparative analysis of staple food prices shows a significant surge from last year, with even the past month exhibiting notable increases. Here are the 10 most expensive staple foods to buy in Nigeria this Easter:
10. Rice agric sold loose
This staple has seen a 111.72% YoY rise, with the February 2024 average price at N1,274.72, up from N602.09 in the same month the previous year. From January 2024, when the average was N1,086.80, there has been a 17.29% month-on-month (MoM) increase. Prices peaked in Niger at N1,973.43, with Borno presenting the most economical option at N886.41.
9. Chicken Feet
There has been a substantial 112.5% YoY increase in the price of chicken feet to N2,313.50, from N1,088.69 a year ago. In the short span since January 2024, when the average stood at N2,052.10, there has been a 12.74% MoM uptick. The highest prices were recorded in Abuja at N4,502.95, in stark contrast with Taraba’s more modest N750.
8. Maize grain white sold loose
With a 115.73% YoY jump, the cost for white maize grain is now N729.45, up from N338.14 in February 2023. Since January 2024, which saw an average of N633.91, the price has risen by 15.07% MoM. The highest price is in Enugu at N1,008.35, and the lowest in Zamfara at N538.45.
7. Plantain (ripe)
The YoY price surge for ripe plantains is at 118.93%, moving from N386.65 to N846.5. January 2024’s average price was N810.67, marking a 4.42% increase MoM. The most significant price reported was in Delta at N1,351.04, while Borno offered the least expensive option at N420.24.
6. Yam tuber
Essential in many Nigerian meals, yam tubers have seen a 131.33% YoY inflation in price to N1,009.56 from N436.41. This represents an 11.93% MoM increase from January 2024’s average price of N901.94. Bayelsa had the highest reported price at N1,452.95, while Borno had the lowest at N626.59.
5. Rice Medium Grained
This variety of rice experienced a 132.91% YoY increase, with the average price in February 2024 reaching N1,361.48 from N584.55 in February 2023. It has a 20.18% MoM increase from January 2024’s average of N1,132.87. Niger had the highest price at N1,698.07, and Kano had the least at N1,086.21.
4. Broken Rice (Ofada)
With a 134.61% YoY hike, the price of Ofada rice rose to N1,338.97 in February 2024 from N570.73 the previous year. January 2024’s price was N1,107.45, showing a 20.91% MoM increase. Abuja’s prices topped at N2,501.14, while Sokoto saw the lowest price at N824.29.
3. Rice local sold loose
A popular choice, local loose rice recorded a 134.81% YoY increase with the price reaching N1,222.97 up from N520.84. The MoM increase stands at 19.69% from January 2024’s average price of N1,021.79. The highest price was seen in Niger at N1,670.96, while the most affordable was in Borno at N936.14.
2. Sweet potato
Coming in at second place, sweet potatoes witnessed a 141.14% YoY increase to N672.83 from N279.02. Since January 2024, with an average price of N615.47, there has been a 9.32% MoM growth. Bayelsa reported the highest price at N1,286.94, while Jigawa was the lowest at N279.72.
1. Plantain (unripe)
Topping the list with the highest YoY inflation is unripe plantain, which has seen an increase of 141.37% to N858.99 from N355.88. The price has grown 5.79% since January 2024, when the average price was N811.95. The highest cost recorded was in Delta at N1,417.28, and the lowest in Yobe at N410.25.
