A bag of rice may become a tall order for an average Nigerian family due to its rising cost. Data from the National Bureau of Statistics (NBS) showed that the average price of 1kg of rice locally sold increased by 60.59 per cent over the last one year jumping from N471.42 in September 2022 to N757.06 in September 2023.
The NBS in its Selected Food Prices Watch for September 2023 released yesterday showed that on a month-on-month basis, the average price of rice increased by 2.48 per cent from N738.74 in August 2023.
The report also showed that the average price of 1kg of beef boneless stood at N2, 816.91. This indicated a 28.08 per cent rise in price on a year-on-year basis from N2, 199.37 recorded in September 2022 and 0.62 per cent rise in price on a month-on-month basis from N2, 799.51 in August 2023.