The Price of local rice increases by 68% in one year
The price of 1kg of local rice grew year-on-year (YoY) by 68% to N819.42 in October 2023 from N487.42 in October 2022.
The National Bureau of Statistics, NBS disclosed this today in its Selected Food Price Watch for October which also included large YoY increases in the prices of white garri, beans, tomato and beef.
Accord to the statistics, Edo state recorded the highest average price of 1kg of local rice sold loose at N1,044.17, while the lowest was reported in Zamfara at N660.79.
On state profile analysis in October 2023, the highest average price of 1kg of Tomato was recorded in Bayelsa at N1,344.13, while the lowest was recorded in Kwara at N341.95.
