The latest Nairametrics Household Food index reveals prices of items under our watchlist rose 1.9% for the fortnight ended July 8th 2017. Nairametrics Food Price Survey is an unofficial tracker of prices of household food and related items in select markets within Lagos.
Highlights of Week ended July 8th 2017
- Household Food prices rose by 2.1% for the week ended July 8 2017. This compares to the -0.36% contraction recorded in the week ended June 24th 2017.
- This week’s rise was driven Palm Oil prices. 20 litres of local palm oil rose by 60% from N9,200 to N14,700.
- 30 litres of Palm Oil also rose 22% from N13,800 t0 N16,800 for the period under review.
- We also observed a slight drop in the price of 12.5kg gas from about N4,500 for a refill to N4,000 per refill.
- The price of one big size tuber of yam dropped 8% while that of a small size dropped by 14%
- We however observed stable prices for other food items within our tracker
- 30 litre Palm Oil price has been stable throughout April and May before contraction began towards the end of May and June.
- However, we observed a gradual spike at the end of June.
- Same was observed with 20 litre palm oil which rose sharply in July compared to prior weeks.
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