Price Of Rice Increases By 23.46% YoY In November 2020 — NBS

The National Bureau of Statistics (NBS) has disclosed that price of rice (imported high quality sold loose) increased year-on-year by 23.46% and month-on-month by 3.71% to N549.98 in November 2020 from N530.32 in October 2020.

Brandnewsday gathers that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 6.64% and month-on-month by 1.42% to N494.72 in November 2020 from N487.81 in October 2020.

The NBS disclosed this in a Selected Food Price Watch Data for November made available to Brand News Day.

Price of Rice

The bureau said that the average price of a piece of Agric eggs medium size (the price of one) increased year-on-year by 8.68% and month-on-month by 2.36% to N44.75 in November 2020 from N43.72 in October 2020.

The report stated that the average price of 1kg of tomato increased year-on-year by 25.86% and month-on-month by 2.77% to N316.16 in November 2020 from N307.63 in October 2020.

According to the report, the average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 23.46% and month-on-month by 3.71% to N549.98 in November 2020 from N530.32 in October 2020.

Similarly, the average price of 1kg of yam tuber increased year-on-year by 16.26% and decreased month on month by -2.72% to N236.25 in November 2020 from N242.87 in October 2020.

Notably, pressures on the food inflation sub-index are likely to continue in December due to festivities-related demand and supply shortages amid lingering insecurity, structural bottlenecks, and currency market volatilities.