Nigeria: Food Prices Rise Year-on-Year – NBS
Prices of selected food items have continued to rise Year-on-Year, with major staples and groceries recording over 60% increase in price, the National Bureau of Statistics has said.
The Selected Food Price Watch for November 2023, shows that the average price of 1kg local Rice sold loose stood at N867.18. This indicates a rise of 73.16percent in price on a year-on-year basis from N500.80 recorded in November 2022 and 5.83% rise in price on a month-on-month basis from N819.42 in October 2023.
According to the report, The average price of 1kg of Beef boneless increased by 29.61% on a year-on-year basis from N2,337.46 in November of last year (2022) to N3,029.50 in November 2023.
“On a month-on-month basis, the average price of this item increased by 2.76% from N2,948.03 in October 2023.”
The average price of 1kg of Beans brown (sold loose) rose by 44.99% on a year-on-year basis from N578.55 in November 2022 to N838.85 in November 2023, the report added.
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Also, it indicated that: “On a month-on-month basis, it increased by 6.18% from N790.01 in October 2023.
Similarly, the average price of 1kg onion bulb rose by 60.62% on a year-on-year basis from N425.71 in November 2022 to N683.78 in November 2023, while there was an increase of 15.35% on a month-on-month basis.”
State Analysis
According to he report, in terms of the average price of 1kg of Beans brown (sold loose), Imo state recorded the
highest price with N 1,109.75, while Jigawa recorded the least price with N 575.00.
Anambra state recorded the highest average price of 1kg Onion bulb sold loose with N872.23, while the lowest was reported in Gombe with N 506.41. The highest average price of 1kg of Tomato was recorded in Delta with N1,505.16, while the least average price was recorded in Kano with N396.04, the report added.
“Also, analysis by zone showed that the average price of 1kg Rice local sold loose was highest in the South-West with N956.28, followed by the South-South with N932.47, while the North-East recorded the lowest average price with N776.12.”
The report further showed that the average price of 1kg of Beef boneless was highest in the South-East and South-West with N3,643.65 and N3,290.11, respectively, while the lowest was recorded in the North-East with
N2,632.22.
Meanwhile, the South-East recorded the highest average price of 1kg of Beans brown (sold loose) with N1,034.08, followed by the South-West with N977.98, while the lowest
was recorded in the North-West with N663.96,” the report added.
“The South-east and South-South recorded the highest average price of 1kg onion bulb with N817.11 and N775.34, respectively, while the lowest was recorded in the North-East with N529.95.
“South-South had the highest average price of 1kg of Tomato with N1,307.66, followed by the SouthWest with N1,047.18, while the lowest was recorded in the North-West with N434.80,” the report noted.
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