April 15, 2024
Food Prices Jump By 31%, Says NBS
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Food Prices Jump By 31%, Says NBS

Food prices jumped by 31 per cent within 12 months from July 2022 to July 2023 with the highest increases recorded in Ebonyi and Abia states. 

This is contained in the monthly ‘Selected Food Price Watch,’ by the National Bureau of Statistics.

The selected food items include staples such as rice (1kg), beans (1kg), bread (500g), tomatoes, beef, wheat (2kg), garri (1kg) and palm oil (1 bottle).

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According to the reports, the highest increase was recorded in the price of yam, which jumped by 42 per cent, from N389.75 to N539.41.

This was closely followed by the price of one kilogram of rice, which increased from N467.80 to N653.49 within 12 months.

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