The latest report on the Selected Food Price Watch for March 2024 by the National Bureau of Statistics (NBS) shows that the average price of one kilogram of local rice stood at N1,350.74 in March 2024.
The development indicates an increase of 152% yearly from the N530.08 recorded in March 2023.
Every month, the rise was about 9.63% compared to N1,222.97 it sold in February 2024.
The NBS report also shows that the average price of 1kg of beef boneless rose by 73.78% yearly from N2,479.61 in March 2023 to N4,309.16 in March 2024.
Monthly, the average price of this item rose by 17.91% from N3,654.56 in February 2024.
The price of other food items, such as beans, increased by 106.78% yearly, from N596.96 in March 2023 to N1,234 in March 2024.
Monthly, it rose by 4.79% from N1,177.93 in March 2024.
Also, the average price of 1kg of Garri white rose by 112.34% from N353.16 in March 2023 to N749.89 in March 2024, an increase of 3.66% monthly.
Additionally, the average price of 1kg of yam tuber increased by 141.25% yearly from N443.02 in March 2023 to N1,068.78 in March 2024.
It rose by 5.87% monthly from N1,009.56 in February 2024 to N1,064 in March 2024.
