One year later and food prices for Nigeria’s staple foods have become unrecognizable

Nigeria has experienced unprecedented food inflation in the past year, with staple items like beans, rice, bread, and eggs seeing price increases exceeding 100%.

The price of 1kg of loose local rice surged by 148.41%, from N737.11 in August 2023 to N1,831.05 in August 2024.

Beans saw a staggering 271.55% rise, while bread prices increased by 113.16%. Egg prices rose by 121.92% year-on-year.

Yam prices jumped by 188.31%, although some items like tomatoes saw a monthly decrease.

Overall, Nigerian consumers are struggling with significantly inflated food costs.