Costs of rice, garri, beef rise 27.4% in March – NBS

Costs of rice, garri, beef rise 27.4% in March – NBS

The typical costs of rice, garri and beef rose 27.4 per cent in March, essentially the most amongst chosen meals costs for the interval, knowledge from the National Bureau of Statistics (NBS) exhibits.

The NBS Selected Food Price Watch report exhibits that the common worth of 1kg native parboiled rice rose to N1,340.7 in March from N530.08 in the identical interval of 2023, indicating a 153 per cent rise in worth.

On a state foundation, the report acknowledged that Niger recorded the best worth of a kg native parboiled rice at N1,700, whereas the lowest was recorded in Benue state at N986.

The typical worth of garri – essentially the most consumed staple by low and center earnings surged 112.3 per cent from N353.16 in March 2023 to N1,554 within the corresponding month in 2024. On a month-on-month foundation, it surged 5.2 per cent from N1,477 in February to N1,554 in March.

The chosen meals worth report exhibits that the common costs of meals objects resembling vegetable oil, beans, palm oil, eggs, tomato and yam, rose significantly in March, accelerating meals inflation to 40 per cent in March.

The typical worth of 1kg beef boneless elevated 17.9 per cent from N3,655 final month to N4,309 in March.

It elevated 74 per cent year-on-year from N2,480 in the identical interval final 12 months. The typical worth of 1kg of brown beans (bought free) elevated 4.79 per cent from N1,178 in February to N1,234 in March. On a year-on-year foundation, the commodity elevated 107 per cent in comparison with the identical interval in 2023.

As well as, the common worth of 1kg of yam tuber rose 141.25 per cent year-on-year from N443.02 the earlier 12 months to N1,069 On a month-on-month foundation, it elevated 5.87 per cent from N1,010 final month to N1,068.

“Evaluation by zone confirmed that the common worth of 1kg native rice bought free was highest within the south-west at N1,526.95, adopted by the south-south at N1,470, whereas the north-west recorded the bottom common worth at N1,104.96,” the report added.

The south-east recorded the best common worth of 1kg of brown beans (bought free) at N1,466, adopted by the south-south at N1,460, whereas the bottom was recorded within the north-west with N863.

The south-west and the south-east recorded the best common worth of 1kg of garri white at N895 and N836, respectively, whereas the bottom was recorded within the north-west with N618.

The best common worth of 1kg of beef boneless, was recorded in Kwara at N5,500 whereas the bottom was recorded in Benue State at N3,400.

Ogun state recorded the best common worth of 1kg of garri white at N1,021, whereas the bottom was reported in Benue at N491.

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