Business
Prices of Rice, Yam, Garri Skyrocketed Over 100% In Feb 2024 – NBS
The Nation Bureau of Statistics (NBS) has revealed that the prices of rice, garri, and yam, popular staple foods in Nigeria, skyrocketed to 134.81 per cent, 109.16 per cent and 131.33 per cent, respectively, in February 2024 compared to last year.
According to the NBS, 1kg of local rice increased by 134.81 per cent to N1,222.97 in February 2024 from N520.84 last year.
Similarly, the average price of garri increased to N723.45 in February 2024 from N345.88 in February 2023.
Also, the price of yam increased to N1009.56 in February 2024 from N436.41 in February 2023.
On a month-on-month basis, the prices of rice, Garri and yam rose by 19.69 per cent, 20.44 per cent and 11.93 per cent, respectively.
Additionally, NBS said the price of 500g of sliced bread increased by 89.48 per cent between February 2023 and February 2024.
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