Food prices increased generally in January: NBS

Food inflation rate jumped from 15.75 percent in December, 2020 to 16.47 percent in January, NBS said.

ELFREDAH KEVIN-ALERECHI • February 27, 2021

Food Items at Utako Market, Abuja (Credit: Ahmed Oluwasanjo)

Nigeria Bureau of Statistics says food prices were generally high in January compared to previous months.

Peoples Gazette in early February reported that NBS Consumer Price Index, which measures increase in prices of goods and services, disclosed Nigeria’s inflation rate at 16.47 percent in January against 15.75 percent recorded in December.

In its selected food price watch data for January 2021 released on its website on Friday, the NBS said the data reflect the yearly increase of an average price of a dozen of medium agric eggs by 12.48 percent and “month-on-month by 2.26 percent to N510.84 in January 2021 from N499.55 in December 2020”.

The nation’s food statistics said the average prices of 1kg of tomatoes are said to increase yearly by 22.11 percent and decreased monthly by 6.59 percent to N289.66 in January against the N310.10 in December 2020

While an average amount of 1kg of imported high-quality rice increases by 21.69 percent every year, and a monthly of 0.11 percent to N551.57 in January from N550.94 in December 2020.

But, an average price of 1kg of yam tuber increased by 21.56 percent, yearly and a monthly of 0.51 percent to N234.67 in January against N233.44 in December 2020.