Prices of Rice, Beans, Garri, Others Rose in March - NBS
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| Prices of Rice, Beans, Garri, Others Rose in March - NBS |
- The National Bureau of Statistics (NBS) has reported a significant increase in the prices of staple food items across Nigeria, with key staples such as beef, rice, beans, garri, and yam experiencing substantial hikes over the past year.
- The average price of 1kg of boneless beef surged by 73.78% year-on-year from ₦2,479.61 in March 2023 to ₦4,309.16 in March 2024.
- The month-on-month increase alone was 17.91% from February 2024.
- The price of 1kg of local rice year-on-year, rising from ₦530.08 in March 2023 to ₦1,340.74 in March 2024, a significant 152.93% increase.
- The price of brown beans increased by 106.78% year-on-year from ₦596.96 to ₦1,234.40.
- White garri, a staple for many Nigerian households, saw its price increase by 112.34% from ₦353.16 per kg in March 2023 to ₦749.89 in March 2024.
- The price of 1kg of yam tuber also rose significantly by 141.25% from ₦443.02 to ₦1,068.78 over the same period.
State Profile Analysis:
- Kwara State recorded the highest average price for 1kg of boneless beef at ₦5,500, while the lowest was in Benue at ₦3,400.22.
- Niger State saw the highest price for 1kg of local rice at ₦1,699.98, with Benue recording the lowest at ₦985.83.
- The South-South region recorded the highest average price for 1kg of boneless beef at ₦5,087.89, and the South-West and South-South zones saw the highest prices for local rice at ₦1,526.95 and ₦1,469.39, respectively.
- The South-East showed the highest prices for brown beans at ₦1,465.87.
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