Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Prices of major staple foods in Nigerian markets have recorded mixed adjustments, with traders increasing the cost of rice, beans, and eggs, while the prices of palm oil, vegetable oil, and semovita have dropped.

This is based on the latest domestic commodity price data for July 2025 published by FDC.

According to the data, the price of a 50kg bag of long-grain rice is now sold at N87,000, a 2.35% increase compared to N85,000 in the previous month.

Also, the cost of a 50kg bag of beans (Oloyin) has increased by 6.25%, up from N80,000 to N85,000.

Egg prices also rose, with a crate now selling for N6,000, representing a 9.09% increase from N5,500.

Some food prices remained unchanged, including the price of a 50kg bag of yellow garri, which stayed at N34,000.

Other items with stable prices include tomatoes (N110,000 per basket), onions (N140,000 per bag), and wheat flour (10kg), which held steady at N12,000.

There is a drop in palm oil, vegetable oil, and semovita prices.

Palm oil recorded the most significant drop, with the price of a 5-litre container falling by 12.5% from N12,000 to N10,500.

Vegetable oil (5 litres) also decreased by 5.41%, selling at N17,500 from N18,500. Semovita (10kg) dropped 6.25% to N15,000, down from N16,000 the previous month.

Food inflation in Nigeria

Earlier, Legit.ng reported that the National Bureau of Statistics has released its latest Consumer Price Index (CPI), which shows that the food inflation rate in June 2025 stood at 21.97% on a year-on-year basis, which was 18.93 percentage points lower than the rate recorded in June 2024 (40.87%).

This significant decline is largely attributed to the change in the base year used for comparison.

On a month-on-month basis, the food inflation rate in June 2025 was 3.25%, an increase of 1.07 percentage points from the 2.19% recorded in May 2025.

This rise is linked to the increase in average prices of items such as dried green peas, fresh pepper, dried white shrimps, crayfish, fresh meat, fresh tomatoes, plantain flour, and ground pepper.

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!

Source: Legit.ng