Food prices in Nigeria increased in December 2020, says national statistics bureau

Published 24 Jan,2021 via BizWatchNigeria - The Nigeria Bureau of Statistics (NBS) said that there was an increase in food prices in the month of December 2020.

It stated this in a report titled, ‘Selected food price watch’, noting that there was a rice in the prices of selected food items in December.

In the report the NBS said that 1kg of rice (imported high quality sold loose) saw a year-on-year increase by 19.80 percent and a month-on-month increase of 0.17 percent.

The report said, “Selected food price watch data for December 2020 reflected that the average price of one dozen of agric eggs medium size increased year-on-year by 9.12 per cent and month-on month by 0.98 per cent to N499.55 in December 2020 from N494.72 in November 2020 while the average price of piece of agric eggs medium size (price of one) increased year-on-year by 11.49 per cent and month-on-month by 1.43 per cent to N45.40 in December 2020 from N44.75 in November 2020.

“The average price of 1kg of tomato increased year-on-year by 17.51 per cent and decreased month-on-month by 1.92 per cent to N310.10 in December 2020 from N316.16 in November 2020.

“The average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 19.80 per cent and month-on-month by 0.17 per cent to N550.94 in December 2020 from N549.98 in November 2020.”

Stating further the rise in the consumer price index, a measure of inflation, the NBS said that there was a 15.75 percent year-on-year increase in the period under review.

In its month-on-month review of increment, it noted a 1.61 percent increase reported in December.

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