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The National Bureau of Statistics
(NBS) yesterday released its "Selected Food Price Watch for March 2024,
showing that the average price of 1kg Rice local sold loose stood at N1,340.74.
According to the document, this
indicates a rise of 152.93per cent in price on a year-on-year basis from
N530.08 recorded in March 2023 and 9.63per cent rise in price on a
month-on-month basis from N1,222.97 in February 2024.
NBS also noted that the average price
of 1kg of Beef boneless increased by 73.78% on a year-on-year basis from
N2,479.61 in March of last year (2023) to N4,309.16 in March 2024.
On a month-on-month basis, according
to the report, the average price of this item increased by 17.91per cent from
N3,654.56 in February 2024.
It said the average price of 1kg of
Beans brown (sold loose) rose by 106.78per cent on a year-on-year basis from
N596.96 in March 2023 to N1234.40 in March 2024. The data further noted that on
a month-on-month basis, it increased by 4.79per cent from N1,177.93 in March
2024.
NBS said similarly, the average price
of 1kg of Garri white, sold loose rose by 112.34per cent on a year-on-year
basis from N353.16 in March 2023 to N749.89 in March 2024, while there was an
increase of 3.66per cent on a month-on-month basis.
The report added that the average
price of 1kg of Yam tuber rose by 141.25per cent on a year-on-year basis from
N443.02 in March 2023 to N1,068.78 in March 2024. On a month-on-month basis, it
increased by 5.87per cent from N1,009.56 in February 2024 to N1,068. in March
2024.
It explained that the "state
profile analysis in March 2024 reveals that the highest average price of 1kg of
Rice local sold loose was recorded in Niger state at N1,699.98 while the lowest
was recorded in Benue state at N985.83.
"The highest average price of
1kg of Beef boneless, was recorded in Kwara at N5,500.00 while the lowest was
recorded in Benue State at N3,400.22. In terms of the average price of 1kg of
Beans brown (sold loose), Ondo state recorded the highest price at N1,596.68,
while Sokoto recorded the least price at N745.5.
"Ogun state recorded the highest
average price of 1kg of Garri white at N1021.13, while the lowest was reported
in Benue at N490.55.
"The highest average price of
1kg of Yam tuber was recorded in Edo at N 1,695.13, while the least average
price was recorded in Katsina at N723.39."
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