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Food Prices rise Persistently, Consumers Groan under Hardship

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food prices

CEM REPORT, MARKET | The economy is biting hard, food prices have continued to rise unabated and on a daily basis leaving consumers to grapple with survival.

The general expressions by consumers are that of anger, frustration, apprehension and fear of survival. The common statement of those that spoke with CEM Television in Yoruba language is “We are hungry, life has become hard, have mercy on us”

According to the report by CEM Television, some food prices have increased more than 40% within 3 weeks and have continued to rise. Daily consumable food items like rice, beans, fish, yam and tomato are the most affected putting pressure on already lean income.

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The report revealed that as at Saturday 10th of February at the popular IIe-epo market, a Basket of tomato was sold for N40,000 while a plastic crate of tomato cost N17,000. This is an increase of 55% within 3 weeks from the 18% sold previously.

One of the most impacting of the food items is rice, a staple food among Nigerians. The price of this commodity has continued to rise from as low as N25,000 per 50kg bag a year ago and now gradually going beyond reach for the low-medium income earners. Currently, the same 50kg bag of rice goes for N70,000 bringing a de rica measurement to N1,300.

Below is the by CEM Television.

 

 

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