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Food Prices Rise In January 2024- NBS

The National Bureau of Statistics (NBS) said prices of beef, rice, beans, onion, tomato, and other food items increased in January 2024 in its Selected Food Prices Watch report for January 2024 released in Abuja on Tuesday.

The report said that the average price of 1kg of boneless beef increased by 37.08 per cent from N2,418.91 recorded in January of 2023 to N3,315.78 in January 2024

“On a month-on-month basis, 1kg of boneless beef increased by 5. 37 per cent in January from the N3,146.94 recorded in December 2023,’’ the report said.

It said that the average price of 1kg of local rice increased by 98.47 per cent on a year-on-year basis from N514.83 recorded in January 2023 to N1,021.79 in January 2024.

“On a month-on-month basis, 1kg of local rice increased by 11.31 per cent from the N917.93 recorded in December 2023.”

It said that the average price of 1kg of brown beans increased by 64.42 per cent on a year-on-year basis from N593.96 in January 2023 to N976.58 in January 2024.

“On a month-on-month basis, the price increased by 12.16 per cent from the N870.67 recorded in December 2023 to N976.58 in January 2024.’’

The NBS said the average price of 1kg of onion bulb rose by 97.38 per cent on a year-on-year basis from N446.44 in January 2023 to N881.20 in January 2024.

“However, on a month-on-month basis, the price decreased by 9.33 per cent from N971.86 recorded in December 2023.’’

The report said that the average price of 1kg of tomato increased by 80.98 per cent on a year-on-year basis from N467.04 in January 2023 to N845.26 in January 2024.

“On a month-on-month basis, 1kg of tomato increased by 3.82 per cent from N814.16 in December 2023 to N845.26 in January 2024.”

On state profile analysis, the report showed that in January 2024,the highest average price of 1kg of boneless beef was recorded in Abuja at N4,000, while the lowest price was recorded in Gombe at N2,639.

It said that Abuja recorded the highest average price of 1kg of local rice at N1,350, while the lowest was recorded in Benue at N800.64

The NBS said that the highest average price of 1kg of brown beans was recorded in Akwa Ibom at N1,466.67, while the lowest price was recorded in Adamawa at N677.23.

It said the highest average price of 1kg of onion bulb was recorded in Rivers at N1,454.09 while the lowest was recorded in Zamfara at N435.71.

According to the report, Delta recorded the highest average price of 1kg of tomato at N1,474.79 while Kano recorded the lowest price at N422.7.

Analysis by zone showed that the average price of 1kg of boneless beef was highest in the South-East at N3,761.32, followed by the South-West at N3,608.76.

“The lowest price was recorded in the North-East at N2,854,86.”

The North-Central and South-West recorded the highest average price of 1kg of local rice at N1,083.36 and N1067.39 respectively, while the lowest price was in the North-East at N941.57.

The report said that the South-South recorded the highest average price of 1kg of brown beans at NN1,296.66, followed by the South-East at N1,088.18 , while the North-West recorded the lowest price at N729.95.

It said that the South-South and South-West recorded the highest average price of 1kg of onion bulb at N1,331.74 and N1,024.89, respectively, while the lowest was recorded in the North-West at N525.60.

The NBS said also that the South-South recorded the highest average price of 1kg of Tomato at N1,321.47, followed by the South-West at NN1,029.25.

“The North-West recorded the lowest price of 1kg of tomato at N490.94,’’ the NBS said . (NAN) 

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