According to a report from the National Bureau of Statistics (NBS) released in Abuja on Saturday, prices of essential food items including beef, rice, beans, onion, white garri, yam, and bread witnessed significant increases in February 2024.
The report revealed that the average price of boneless beef per kilogram surged by 49.41% compared to February 2023, reaching N3,654.56 in February 2024. Month-on-month, the price rose by 10.22% from January 2024.
Similarly, the average price of local rice per kilogram soared by 134.81% year-on-year to N1,222.97, with a monthly increase of 19.69%. Brown beans, onion bulb, white garri, yam tuber, and sliced bread also experienced substantial price hikes both annually and monthly.
State-wise, Abia recorded the highest average price of boneless beef at N4,595.69 per kilogram, while Kogi had the lowest at N2,680.03. Niger topped the list for local rice prices, while Borno had the lowest. Nasarawa led in brown beans prices, and Sokoto had the lowest.
Food prices
Food Prices, in terms of regions, the South-East and South-West had the highest average prices for various food items, while the North-West generally reported lower prices.
In conclusion, the report underscores the persistent inflationary pressure on food prices across Nigeria, posing challenges to consumers’ purchasing power and food security.
Source: guardian.ng
