Food Prices in Nigeria Rise Further – NBS
The National Bureau of Statistics (NBS), says the prices of popular food items such as yam, rice and beef increased significantly in the month of February.
This was published in the Selected Food Price Watch for February 2023 on the NBS website.
The report shows that the average price of 1kg Beef boneless stood at N2,445.96 in February 2023.
This indicated that on a year-on-year basis, the price rose by 27.43% from the value recorded in February 2022 (N1,922.2), and 1.12% on a month-on-month basis from N2,418.91 in January 2023.
Meanwhile, the report said the average price of 1kg of Tomato increased on a year-on-year basis by 19.08% from N393.08 in February 2022 to N468.09 in February 2023.
“On a month-on-month basis, the average price of this item increased by 0.22% in February 2023. “
Also, the average price of 1kg of Rice (locally sold loose) on a year-on-year basis rose by 19.30% from N436.58 in February 2022 to N520.84 in February 2023, the report added.
“Also, on a month-on-month basis, it increased by 1.17% from N514.83 in January 2023.”
Similarly, the average price of 1kg of Onion bulb rose by 18.99% on a year-on-year basis from N378.26 in February 2022 to N450.07 in February 2023. While on a month-on-month basis, the price rose by 0.81%.
For Yam, the NBS said the average price of 1kg Yam tuber on a year-on-year basis rose by 28.45% from N339.76 in February 2022 to N436.41 in February 2023.
“Also, on a month-on-month basis, it increased by 1.17% from N431.36 in January 2023.”
In the same vein, the average price of Vegetable oil (1 bottle, specify bottle) stood at N1,196.68 in February 2023, showing an increase of 25.91% from N950.46 in February 2022. On a month-on-month basis, it rose by 1.10% from N1,183.67 in January 2023.
