Prices Of Food In Nigeria Skyrocketed In October – NBS Report

Prices Of Food In Nigeria Skyrocketed In October – NBS Report

By Wires Editor | The Trent on November 25, 2020
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Nigerian Market Nigerian Open Market economy Lagos
Nigerian Market

Prices of food items soared in October, a report by the National Bureau of Statistics, NBS, stated on Wednesday, November 25, 2020.

According to its selected food price watch for the month under review, the average price of 1kg of tomato increased year-on-year by 31.81 percent and month-on-month by 7.22 percent to N307.63 in October 2020 from N286.92 in September 2020.

The report also noted that the average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 38.62 percent and month-on-month by 2.75 percent to N530.32 in October 2020 from N516.13 in September 2020.

The selected food price watch data for October 2020 also reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 5.48 percent and month-on-month by 1.47 percent to N487.81 in October 2020 from N480.76 in September 2020 while the average price of piece of Agric eggs medium size (price of one) increased year-on-year by 7.92 percent and month-on-month by 1.92 percent to N43.72 in October 2020 from N42.90 in September 2020.

The NBS said similarly, the average price of 1kg of yam tuber increased year-on-year by 35.11 percent and decreased month on month by -1.12 percent to N242.87 in October 2020 from N245.62 in September 2020.

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