Selected Food Price Watch for February 2024 shows that the average price of 1kg Rice local sold loose stood at N1,222.97. This indicates a rise of 134.81% in price on a year-on-year basis from N520.84 recorded in February 2023 and a 19.69% rise in price on a month-on-month basis from N1,021.79 in January 2024. The average price of 1kg of Beef boneless increased by 49.41% on a year-on-year basis from N2,445.96 in February of last year (2023) to N3,654.56 in February 2024. On a month-on-month basis, the average price of this item increased by 10.22% from N3,315.78 in January 2024.
The average price of 1kg of Beans brown (sold loose) rose by 98.25% on a year-on-year basis from N594.15 in February 2023 to N1,177.93 in February 2024. On a month-on-month basis, it increased by 20.62% from N976.58 in January 2024. Similarly, the average price of 1kg of Garri white, sold loose rose by 109.16% on a year-on-year basis from N345.88 in February 2023 to N723.45 in February 2024, while there was an increase of 20.44% on a month-on-month basis. In addition, the average price of 1kg of Yam tuber rose by 131.33% on a year-on-year basis from N436.41 in February 2023 to N1009.56 in February 2024. On a month-on-month basis, it increased by 11.93% from N901.94 in January 2024 to N1009.56 in February 2024.

Data source: National Bureau of Statistics

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