Data from Nairametrics bi-weekly household food tracker shows food prices within Lagos rose by 1.1% at the end of June 10 2017 compared to 2.6% two weeks earlier May 27, 2017. Nairametrics household food tracker tracks the prices of select household food items over a two-week period. The data tracks about 83 items in all.
- Price increases were only observed in about 4 items on our list (see table below)
- We observed an over 400% increase in the price of oval-shaped tomatoes which rose from about N800 to N5,800 for a small basket. Our researchers inform us that the item has been scarce in the market for months now and only just became available a few weeks ago.
- They opine that the price of N800 was the last official price that we tracked, which was month’s ago when the item was available.
- Our sources inform us that pest related issues and wastage has made farming for tomato unprofitable thus the increases in prices to make some profit.
- Tomato prices are said to be cheaper around the last 3-4 months of the year and the first quarter of the year.
- For example, a small basket of round shaped tomato was about N2,700 in September of 2016 and about N3,400 in February this year. It now goes for about N7000 for a basket.
- We also observed significant increases in the price of a one big size tuber of yam, which went up 43% compared to two weeks ago. Prices rose from N700 to N1000
- Significant price drops was recorded in about 9 items of which potato recorded the highest drop.
- A small basked of potato now cost about 23% less from two weeks ago at N500. A medium basket cost 17% less at N1000.
- A 12.5kg cylinder of gas now retails for about N4000 compared to about N4,500 two weeks ago. Gas prices have now dropped from about N5,500 earlier in the year.
- Relative price decreases were observed with Basmati rice, palm and vegetable oil items.
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Effective August 1, 2016, Nairametrics commenced publishing market prices of everyday select food and household items in Lagos on a bi-weekly basis (every two weeks).
The pricing data is based on a survey conducted by our field operatives, from select markets in Lagos State on a spot basis only. We cover the following markets, Daleko, Ago Ishaga, Iddo, Aguda, Ojuiwoye etc.
This data dates back to the 1st of August 2016 for some of the items on the tracker. However, we used September 17th as our base month for identifying percentage trends.
Disclaimer: The Biweekly Survey of Household Foodstuff Prices In Lagos is not recognized by the Lagos State Government, Federal Government or the National Bureau of Statistics. It only represents the outcome of data gathered by Nairametrics for our analysts. The National Bureau of Statistics Consumer Price Index remains the official source for measuring increase in prices of goods and services in Nigeria. Usage of this data is strictly on the volition of the user. Nairametrics will not be held liable for any decision making based on the usage of this data. Please read our disclaimer policy.
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