Average Prices of 1kg of Rice up 68% YoY in February 2017

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Selected food price watch data for February 2016 reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 53.33% and month-on-month by 1.40% to N520.16 in February 2017 from N512.99 in January 2017 while the average price of piece of Agric eggs medium size increased year-on-year by 43.03% and decreased month-on-month by 9.52% to N42.90 in February 2017 from N47.42 in January 2017.

The average price of 1kg of tomato increased year-on-year by 13.13% and decreased month-on-month by 4.41% to N236.62 in February 2017 from N247.55 in January 2017.

The average price of 1kg of rice (imported high quality sold loose) increased year-on-year by 68.10% and month-on-month by 2.13% to N410.58 in February 2017 from N402.01 in January 2017.

Similarly, the average price of 1kg of yam tuber increased year-on-year by 43.92% and month-on-month by 2.36% to N215.55 in February 2017 from N210.58 in January 2017.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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