Nigeria: The price of rice rises 81% in one year and onions rise 123%, according to NBS

Published 2024년 1월 25일

Tridge summary

The National Bureau of Statistics (NBS) has reported a significant increase in the prices of key food items in Nigeria for December 2023. The price of 1kg of rice rose by 81%, beans brown by 48.5%, onion bulb by 122.9%, and tomato by 77.6%. Additionally, transport fares for bus, motorcycle, air, and water transport journeys also increased. However, the average fare for bus journeys within the city and Okada transportation saw a decline compared to the previous month.

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Original content

The National Bureau of Statistics report has indicated that the price of 1 kilogram (Kg) of rice increased year-on-year, YoY, by 81 percent to N917.93 in December 2023 from N506.17 in the corresponding period of 2022. NBS, disclosed this yesterday in its Selected Food Price Watch for December 2023. NBS also said the average price of 1kg of Beans brown (sold loose) rose by 48.5 percent YoY to N870.67 in December 2023 from N586.14 in December 2022. Similarly, 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. In addition, 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. Meanwhile, the NBS in its Transport Fare Watch for December 2023 released yesterday said transport fare for bus, motorcycle (Okada), air and water transport journeys increased during the period. It stated: “The average fare paid by commuters for bus journeys within the city per ...

Source: Economicconfidential