Prices of Staple Foods, Groceries, Rise Yearly – NBS

The Selected Food Price Watch for October 2023 published by the Narional Bureau of Statistics shows that the average price of staple foods and groceries have recorded a year-on-year increase.

According to the report published on the NBS website, 1kg of Tomato rose by 48.73% on a year-on-year basis from N454.46 in October 2022 to N675.91 in October 2023.

On a month-on-month basis, it increased by 19.48% from N565.69 in September 2023.

Similarly, the average price of 1kg Rice local sold loose rose by 68.10% on a year-on-year basis from N487.47 in October 2022 to N819.42 in October 2023, the report showed.

Meanwhile, on a month-on-month basis, there was an increase of 8.24%.

The average price of 1kg of Beans brown (sold loose) rose by 39.90% on a year-on-year basis from N564.69 in October 2022 to N790.01 in October 2023.

“On a month-on-month basis, it increased by 10.19% from N716.97 in September 2023,” the report indicated.

Likewise, the average price of 1kg beef boneless stood at N2,948.03 in October 2023.

“This indicated that on a year-on-year basis, the price rose by 30.08% from the value recorded in October 2022 (N 2,266.24), and 4.65% on a month-on-month basis from N2,816.91 in September 2023.”