Nigeria ranked top among nine African countries with the most expensive prices of bread, according to a report by Business Insider Africa.
Bread is a common staple food which is widely consumed and always in high demand in Africa.
The report, which compiled data from Numbeo, a leading global database of consumer prices said a loaf of fresh white bread, which weighs about 500 grams, costs more than a dollar in Africa’s most populous nation – a loaf of fresh white bread (500g) is going for an average of $1.12.
In South Africa, which came in second place, the same loaf of bread (500g) costs an average of $0.98. Ghana came in third.
Nine African countries captured by the report
Nigeria: A loaf of fresh white bread (500g) costs an average of $1.12 in Nigeria.
South Africa: A loaf of fresh white bread (500g) costs an average of $0.98 in SA.
Ghana: A loaf of fresh white bread (500g) goes for an average price of $0.79 in Ghana.
Mauritius: A loaf of fresh white bread (500g) goes for an average price of $0.71 here.
Egypt: A loaf of fresh white bread (500g) goes for an average price of $0.60 in Egypt.
Morocco: A loaf of fresh white bread (500g) goes for an average price of $0.50.
Kenya: Here, a loaf of fresh white bread (500g) costs an average of $0.47.
Algeria: A loaf of fresh white bread (500g) goes for an average price of $0.16.
Tunisia: A loaf of fresh white bread (500g) goes for an average price of $0.13.
The increasing cost of the staple food has been attributed to its high demand and other macroeconomic factors such as supply chain disruptions and foreign exchange constraints.
The recent invasion of Ukraine by Russia, according to global economic institutions, have been predicted to likely result in an imminent food crisis in Africa especially.
This is because most African nations that make bread source their grains which include wheat from Ukraine. Russia, on the other hand, is among the world’s largest wheat exporters.
The ongoing war has resulted in a raft sanctions placed on Russia which could potentially impact on wheat export to key countries.