Top 10 food items with highest price increase in January 2024

The most recent National Bureau of Statistics (NBS) reported a significant surge in the food inflation rate for January 2024, marking a substantial 11.10%-point increase from the 24.32% observed in January 2023, highlighting a pronounced rise in the cost of food items.

The key drivers of this inflationary pressure include notable price hikes in essential food commodities such as bread and cereals, potatoes, yams and other tubers, oils and fats, fish, meat, and fruits, as well as coffee, tea, and cocoa.

Here are the top 10 food items that have recorded the highest price increase in one year as of January 2024, according to the latest selected food price report of the NBS:

The average price of Chicken Feet rose experienced a 90.09% Year-on-Year (YoY) increase, moving from N1,079.55 in January 2023 to N2,052.10 in January 2024.

Based on a Month-on-Month (MoM) analysis, it rose by 5.21% from N1,950.54 in December 2023. The highest price was in Oyo at N2900, while the lowest was in Borno at N794.45.

The average price of Irish potato saw a 93.64% YoY increase, rising from N543.15 in January 2023 to N1,051.77 in January 2024.

On MoM analysis, it rose by 4.51% from N1,006.36 in December 2023. The highest price was recorded in Abuja at N1883.33 and the lowest in Yobe at N512.2.

Ofada rice prices increased by 95.25% YoY, from N567.19 in January 2023 to N1,107.45 in January 2024. On MoM analysis, it rose by 10.51% from N1,002.10 in December 2023.

Lagos had the highest price at N1,713, while the lowest was in Zamfara at N766.25.

Rice medium-grained experienced a 95.88% YoY increase, with prices moving from N578.36 in January 2023 to N1,132.87 in January 2024. On MoM analysis, it rose by 14.31% from N991.08 in December 2023.

The highest price was in Kwara at N1361.34 and the lowest in Adamawa at N783.21.

Average prices of onion bulbs rose by 97.38% YoY, from N446.44 in January 2023 to N881.2 in January 2024. However, on MoM analysis, it fell by 9.33% from N971.86 in December 2023.

The highest price was in Rivers at N1,454.09, and the lowest in Zamfara at N435.71.

Local rice sold loose saw a 98.47% YoY increase in price, escalating from N514.83 in January 2023 to N1,021.79 in January 2024. On MoM analysis, it rose by 11.31% from N917.93 in December 2023.

The highest price was recorded in Abuja at N1,350, with the lowest in Benue at N800.64.

The highest price was recorded in Abuja at N1,350, with the lowest in Benue at N800.64.

The average price of yam tuber increased by 109.09% YoY, from N431.36 in January 2023 to N901.94 in January 2024. On MoM analysis, it rose by 10.14% from N818.92 in December 2023.

Abuja had the peak price at N1,250.25, and the lowest was in Borno at N592.62.

Ripe plantain experienced a 110.69% YoY increase, with average prices moving from N384.77 in January 2023 to N810.67 in January 2024.

On MoM analysis, it rose by 6.95% from N757.99 in December 2023. The highest price was again in Abuja at N1,500 and the lowest in Borno at N412.14.

Average prices of sweet potato rose by 124.9% YoY, moving from N273.67 in January 2023 to N615.47 in January 2024. On MoM analysis, it rose by 11.51% from N551.92 in December 2023.

Bayelsa recorded the highest price at N1,181.37, while the lowest was in Jigawa at N298.88.

Unripe plantain saw the highest increase at a staggering 129.46% YoY, jumping from an average price of N353.86 in January 2023 to N811.95 in January 2024.

On MoM analysis, it rose by 8.83% from N746.04 in December 2023. The highest price recorded was in Abuja at N1,500 and the lowest in Yobe at N407.52.