Price of rice up 81% in 1 year, onions rise 123% – NBS

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The National Bureau of Statistics (NBS) has announced that the price of 1 kilogram (Kg) of rice has skyrocketed by 81 percent in one year.

The report stated that it rose to N917.93 in December 2023 from N506.17 in the corresponding period of 2022, according to the National Bureau of Statistics, NBS

 

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NBS made the revelation on Wednesday, January 24, during its Selected Food Price Watch for December 2023.

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According to the Price Watch, the average price of 1kg of brown Beans (sold loose) rose by 48.5 percent YoY to N870.67 in December 2023 from N586.14 in December 2022.

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Also, the average price of 1kg onion bulb rose by 122.9 percent YoY to N971.86 in December 2023 from N435.93 in December 2022.

 

The average price of 1kg of Tomato rose by 77.6 percent YoY to N814.16 in December 2023 from N458.42 in December 2022.

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