In Feb 2024, Nigeria's NBS reported significant food price increases, with beef up 49.41% YoY and 10.22% MoM, and rice up 13.
In Feb 2024, Nigeria's National Bureau of Statistics (NBS) reported a significant increase in food prices, including beef, rice, beans, onion, white garri, yam, and bread. Beef prices rose by 49.41% year-on-year and 10.22% month-on-month, while rice prices increased by 13.47% year-on-year and 11.93% month-on-month. The NBS attributes the price increases to factors such as inflation and supply chain disruptions.
March 24, 2024
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