Prices of food stuff drop in February - NBS

Prices of food stuff drop in February - NBS

- The federal government has said that the price of food stuff in Nigeria dropped in February 2019

- This was disclosed in a report released by the National Bureau of Statistics on Tuesday, March 19

- The report said the average price of one kilogramme of tomato decreased year-on-year by -3.97%

The National Bureau of Statistics (NBS), said the average price of some selected food items in the country decreased in February.

NBS said this in its “Selected Food Price Watch (February 2019)’’ report released on Tuesday, March 19.

The News Agency of Nigeria reports that the NBS said the average price of one dozen of medium sized agric egg decreased from N469.85 in January to N464.27 in February.

The bureau said price of a dozen of medium sized egg decreased year-on-year by 10.55% and month-on-month by 1.19% in the period under review.

It said the average price of a piece of medium sized agric egg increased year-on-year by 2.33% and month-on-month by 0.12% to N42.23 in February from N42.18 in January.

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According to the report, the average price of one kilogramme of tomato decreased year-on-year by -3.97% and month-on-month by -3.38% to N256.50 in February from N265.49 recorded in January.

It said the average price of one kilogramme of rice (imported high quality sold loose) decreased year-on-year by 0.23%and month-on-month by -0.45 per cent to N364.38 in February from N366.04 in January.

“Similarly, the average price of one kilogramme of yam tuber decreased year-on-year by -10.5% and month-on month by -2.24% to N206.48 in February from N211.21 in January,’’ it added.

The NBS said in arriving at the report, field work was done by more than 700 NBS staff in all states of the federation supported by supervisors who were monitored by internal and external observers.

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It said the NBS audit team subsequently conducted randomly selected verification of the prices recorded.

Meanwhile, Legit.ng previously reported that prices of food in the country went up in the month of November 2018, due to the rise in inflation which stood at 11.28% year-on-year from 11.26% in October 2018.

The latest inflation data was disclosed by the National Bureau of Statistics (NBS) in a tweet on Friday, December 14.

The NBS stated that food inflation on a year on year basis was highest in Edo - 16.52%, Imo - 15,40%, and Bayelsa - 15.36%.

It said the food inflation on a year on year basis was lowest in Kogi -11.50%, Abia - 11.24% and Oyo - 10.84%.

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Source: Legit Nigeria

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