Inflation: Why Prices Of Food Rose In February NBS

Inflation: Why Prices Of Food Rose In February NBS

Food prices rose generally in February, the latest figures from the National Bureau of Statistics (NBS) revealed on Friday. The NBS disclosed this in its report titled ‘Selected food watch’ for February 2021. Part of the report read, “Selected food price watch data for February 2021 reflected that the average price of one dozen of agric eggs medium size increased year-on-year by 15.62 percent and month-on-month by 1.46 percent to N518.30 in February 2021 from N510. 84 in January 2021. “While the average price of piece of agric eggs medium size (price of one) increased year-on-year by 20.50 per cent and month-on-month by 2.47 per cent to N47.35 in February 2021 from N46.21 in January 2021. “The average price of 1kg of tomato increased year- on-year by 11.33 percent and decreased month-on-month by -7.07 percent to N269.18 in February 2021 from N289.66 in January 2021. “The average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 21.02 percent and decreased month-on-month by -2.57 percent to N537.37 in February 2021 from N551.57 in January 2021. “Similarly, the average price of 1kg of yam tuber increased year-on-year by 28.11 percent and month on month by 3.47 percent to N242.82 in February 2021 from N234.67 in January 2021.” The NBS revealed that the composite food index rose by 21.79 percent in February 2021 compared to 20.57 percent in January 2021. ADVERTISEMENT Join Keep helping people International Now Read news and earn N20,000
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