Despite the decelerating trend of the nation’s Composite Price Index (CPI), which measures inflation, over the months, consumers paid more for food items in May this year when compared with the prices of such items in April.
The National Bureau of Statistics (NBS) in its latest ‘Selected Food Price Watch’ data for May published on Wednesday, reported that in the month under review the average price of 1kg of tomato increased month-on-month by 6.10 percent to N307.14 from N289.49 it sold for in April 2018.
However, the Bureau disclosed that on year-on-year basis, the price of the commodity decreased by -9.59 percent.
Similarly, the average price of 1kg of rice (imported high quality sold loose) also increased month-on-month by 1.43 percent to N374.63 in May, up from the N369.35 the same quantity exchanged for in the preceding month. On year-on-year trend, the commodity’s price dropped by -8.75 percent
The NBS reported further that the average price of 1kg of yam tuber increased both on year-on-year as well as month-on-month.
According to the Bureau, the price increased year-on-year by 4.36 percent and month-on-month to N291.33 in May, up from N279.61 it sold for in April 2018, representing a 4.19 percent increase.
The Selected Food Prices Watch document also showed that the average price of 1 dozen of agric eggs medium size increased year-on-year by 4.96 percent and decreased month-on-month by -0.62 percent to N548.66 in May 2018 from N552.09 in April 2018.
The NBS noted that the average price of piece of agric eggs medium size(price of one) decreased year-on-year by -8.68 percent and month-on-month by -1.14 percent to N41.77 in May when compared with N42.25 it sold for in the preceding month.
