Nigerians worried about the rising food prices should breathe a sigh of relief, as prices of some basic staple food items dropped in the month of August compared to July.
Data from Nairametrics household food items shows prices from our basket reduced across major household items especially staple foods such as garri, palm oil, yam. This will come as good news for a lot of households who have to contend with children being at home for the long holidays.
Toggle with our smart table to check food prices. Note; negative absolute change means food price drop
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Food prices have risen by over 11% when we started tracking this data in September 2016 due to a combination of fuel price increase, depreciation of the naira and increase in electricity prices. Analysts explain to Nairametrics that the reason for the drop in food prices is also attributed to the seasonal August harvest, where most markets are flooded with food from farms across the country.
NB: These prices are checked every two weeks by Nairametrics team and is not in any way related to the official food price survey conducted by the National Bureau of Statistics. The prices here are for select markets in Lagos.