By Sunday Etuka, Abuja
Average prices of rice, beans, garri, yam and beef recorded an increase year-on-year in March 2024, according to the latest report by the National Bureau of Statistics (NBS).
NBS in its Selected Food Price Watch Report said that the average price of 1kg rice increased by 152.93 percent in March 2024.
The price of rice increased from the N530.08 recorded in March 2023 to N1,340.74 in March 2024, indicating an increase of 152.93 percent.
This is even as it recorded a 9.63 percent rise on a month-on-month basis, from the N1,22.97 recorded in February 2024.
The report also indicated 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 last year (2023) to N4,309.16 in March 2024.
NBS said, on a month-on-month basis, the average price of this item increased by 17.91% from N3,654.56 in February 2024.
The Bureau also said that the average price of 1kg of Brown Beans (sold loose) rose by 106.78% on a year-on-year basis from N596.96 in March 2023 to N1234.40 in March 2024. On a month-on-month basis, it increased by 4.79% from N1,177.93 in March 2024.
Similarly, it said, the average price of 1kg of Garri white, sold loose rose by 112.34% on a year-on-year basis from N353.16 in March 2023 to N749.89 in March 2024, while there was an increase of 3.66% on a month-on-month basis.
In addition, NBS said, average price of 1kg of Yam tuber rose by 141.25% 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 5.87% from N1,009.56 in February 2024 to N1,068. in March 2024.
Meanwhile, the report said, 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”, the report said.
