Nigeria: Food Prices Rise in April Despite Fall in Inflation

As transport fares soar amid drop in petrol price

The prices paid by consumers for rice, egg, tomatoes and yam rose in April despite 0.91 month-on-month (MoM) fall in food inflation sub-index during the period.

Similarly, transport fare for bus, air, motorcycle and waterway journeys increased amidst a four percent drop in petrol price during the period.

In its latest data on selected food prices, the National Bureau of Statistics (NBS) said: “Selected food price watch data for April 2021 reflected that the average price of one dozen of agric eggs medium size increased year-on-year (YoY) by 11 percent and MoM by 1.13 percent to N530.40 in April 2021from N524.47 in March 2021 while the average price of piece of agric eggs medium size (price of one) increased YoY by 18 percent and MoM by 1.5 percent to N49.14 in April 2021 from N48.43 in March 2021.

“The average price of 1kg of tomato increased YoY by 0.09 percent and MoM by 3.7 percent to N277 in April 2021 from N267 in March 2021.

“The average price of 1kg of rice (imported high quality sold loose) increased YoY by 14.6 percent and decreased MoM by 0.67 percent to N540 in April 2021 from N544 in March 2021.

“Similarly, the average price of 1kg of yam tuber increased YoY by 9.9 percent and MoM by 3.3 percent to N252.80 in April 2021 from N244.82 in March 2021.”

But in its inflation report for April, NBS said that the food sub index declined by 0.91 percent MoM to 0.99 percent in April from 1.9 percent in March.