It can be recalled that last year there was an inflation in the price of rice in the country especially during the ember months as we approached the Christmas celebration. A bag of rice was sold for almost N40,000 as well as the prices of other foodstuff experienced a high rate of inflation which was greatly influenced by the corona virus pandemic and the lock down. Today ,I have outlined a list of the current prices (2021 updated)of some food stuffs that experienced a high rate of inflation last year.
A bag of local rice (50kg) has reduced by a rate of about 6.4% from an average initial value of N25,375 to an average of N23,750,while foreign rice (50kg) now sells for about N24,500 against an estimated amount of about N26,125-N35,000 last year.
It can also be recalled that the price of Onions experienced a very high increase last year and that resulted in the scarcity of the vegetable crop. Currently the price of old Onion has dropped to about 77.5% of its cost last year, and is presently being sold at an average of N21,500 as compared to last year when its price was between N75,000-N95,000 pending on your location. Meanwhile the price if New/fresh onions also experienced a fall in price of about 74.6% its price Kate last year and is currently being sold at a rate of N16,500.
ITEMS THAT INCREASED PRICES
Just as some items reduced in price as a result of change in season,so too the prices of some other commodities have also increased. A bag of lemon that was sold for about N43,000 in December has increased by about 3.45% and is currently being sold within an estimated average of N45,000.
A nylon bag of crayfish is now sold at an estimated amount of N14,250 as compared to its price in December last year which was about N13-N14,000.
A basket of potatoes which was initially sold at N5,500 is now being sold at N6000 experiencing an increase rate of about 9.1%.
Note: The price ranges may not be uniform across all states in Nigeria due to differences in distributive channels,cost of production of these goods in different parts of the country amongst many other factors.
Content created and supplied by: StephenEgbochue (via Opera News )
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