• In Borno and Yobe states, prices of key staples saw a seasonal upturn due to a decreased availability of market stocks since July, ascribed to the lean season, the underlying high inflation and Eid celebration late July.
• Between June and July, the cost of the Food Basket, which is 70% of Survival Minimum Expenditure Basket (SMEB) in Maiduguri and Jere, increased slightly from 19,072 Naira to 19,345 Naira. This now means that the SMEB is as high as at the highest point in the 2018 lean season.
• In Geidam (Yobe), the SMEB increased by ten (10) percent between June and July from 18,411 Naira to 20,228 Naira, being the cost of 100% of the Food Basket.
• The price of local rice which has continued to increase over three months in most markets of Borno, with Bullumkutu (19%), Baga (24%), Monday (30%) and Abbaganaram (31%).
Similarly in Yobe, prices increased in Potiskum (16%), Nguru (18%), Gashua and Geidam (25%), Bursari and Gujba (38%) and Gulani (67%) being the notable cases.
• Over the last three months, the price of red beans did show a significant increase in some of the markets. In Borno, prices increased in Budum (20%), Kasuwan Shanu (26%),
Bullumkutu (27%) and Baga (29%) markets. Also in Yobe, the retail price of red beans increased in Gashua (28%), Nguru (35%), Potiskum (38%) and Bursari (76%) markets.
• Furthermore, the prices of maize increased in Custom (13%), Tashan Bama (14%), Budum (25%) and Kasuwan Shanu (36%). In Yobe, maize prices increased in Bursari (25%),
Gujba (29%), Geidam (33%), Gulani (47%), Potiskum (83%), Gashua and Nguru (85%) markets.
• Nigeria’s annual inflation rate rose for a tenth straight month to 12.6% in June of 2020 from 12.4% in the prior month. The prices of most staple food commodities are generally expected to remain well above average in both Borno and Yobe States during the rest of the lean season months of August and September. A slight decrease is expected thereafter.
Source: World Food Programme