Cost of Healthy Diet Drops to N1,255

The cost of a healthy diet (CoHD) experienced a slight decrease of 0.8% in August, bringing the average cost per adult per day to N1,255, down from N1,265 in July. This marks the first month-on-month (MoM) decline since January 2024, when the CoHD was N858 and continued to rise, largely driven by increasing prices of legumes, nuts, seeds, starchy staples, and vegetables.

According to the August 2024 report from the National Bureau of Statistics (NBS), the CoHD represents the most affordable combination of locally available food items that meet globally consistent dietary guidelines. It reflects the minimum cost per adult per day, excluding transportation and meal preparation expenses.

The NBS report further highlighted state-level variations in the CoHD, with Ogun, Lagos, and Rivers States recording the highest costs at N1,641, N1,615, and N1,572, respectively. In contrast, Katsina, Kaduna, and Sokoto States had the lowest costs, with figures at N880, N951, and N980 per adult per day.

Regionally, the South West zone reported the highest average CoHD at N1,554 per day, followed by the South-South at N1,381. The North West zone had the lowest average cost, at N1,041 per day.

Despite the recent decline, the CoHD has seen a 28% increase since March 2024, when it stood at N982 per adult per day. The rising prices of legumes, nuts, seeds, starchy staples, and vegetables are noted as the primary drivers of this increase. However, vegetable prices dropped by 14.5% in August compared to the previous month.

Breaking down the cost by food group, the report found that animal-based foods were the most expensive, accounting for 37% of the CoHD while providing 13% of total calories. Fruits and vegetables, although high in price per calorie, contributed only 7% and 5% of the total calories, respectively. Legumes, nuts, and seeds were the least expensive, making up just 7% of the total CoHD.

The report also pointed out that the CoHD has risen faster than both general inflation and food inflation in recent months. However, it clarified that the CoHD and the food Consumer Price Index (CPI) are not directly comparable, as the CoHD includes fewer items and is calculated on a daily cost basis, while the food CPI is a weighted index.