The Nigerian Bureau of Statistics, NBS, has unveiled data affirming that the average price of 1kilogramme of local rice jumped by a whopping 98 per cent in one year
The report – titled Selected Food Prices Watch for January 2024, indicated a rise of 98 per cent in price on a year-on-year basis from N515 recorded in January 2023 and an 11 per cent rise in price on a month-on-month basis from N918 in December 2023.
In the same vein, the average price of 1kg of Beef increased by 37 per cent on a year-on-year basis from N2,419 in January of last year 2023 to N3,316 in January 2024.
Meanwhile, the NBS, in a separate report admitted that the price of the Liquefied Petroleum Gas (LPG) otherwise known as cooking gas increased by 12 per cent from N4,589 in one year.
Analysis of the data by zone showed that the North-East recorded the highest average retail price for refilling a 5kg cylinder with N5,296, followed by the North-Central with N5,240, while the South-West recorded the lowest with N4,805.
