Published in Chart of the Day
The average prices of selected food items in the country increased from N796.91 in November 2021 to N808.48 in December 2021, a month-on-month increase of 1.45%.
Ode Uduu ,
February 7th, 2024
Official data says food prices increased by just 1.45% in December.
However, year-on-year, the average food prices increased by 21.74%. The prices of these selected food items increased from N664.09 in December 2020 to N808.48 in December 2021.
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Amongst the sampled food items, sweet potato had the highest price change. The price increased from N202.25 in November 2021 to N214.44 in December 2021. Sweet potato increased by 6.02% to record the highest increase.
Frozen chicken increased by 3.93% in December in second place as the price rose from N2164.76 in November 2021 to N2249.78 in December 2021.
Groundnut oil, irish potato, and palm oil complete the top five price increases. The prices of these food items increased by 3.77%, 2.77%, and 2.54% respectively.
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The average prices of selected food items in the country increased from N796.91 in November 2021 to N808.48 in December 2021, a month-on-month increase of 1.45%.
