The price of sliced 500g bread rose to N447.80 in March this year from N331.76 in March 2021, according to data obtained from the National Bureau of Statistics (NBS).
The NBS report also showed that the price of unsliced 500g bread increased to N411.73 in March 2022 from N310.73 in March 2021.
Bread is mostly made from wheat. According to the NBS, Nigeria imported N124 billion worth of wheat from Russia in the first nine months of 2021. Since the Russia-Ukraine war, prices of commodities have surged.
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The price of wheat flour – prepacked (Golden Penny 2kg) – jumped by 36 per cent to N1,041.82 in March 2022 from N766.11 in March 2021.
In one year, wheat-based products such as the popular pre-packed wheat flour and bread (sliced and unsliced) have seen steady price increase across Nigeria.
The NBS disclosed on Monday that food inflation increased to 18.37 percent in April 2022 from N17.20 in March 2022.
“This rise in the food index was caused by increases in the prices of bread and cereals, food products n.e.c, potatoes, yam, and other tubers, wine, fish, meat, and oils,” it said.
