Food prices keep on rising, government statistics show
By Jeph Ajobaju, Chief Copy Editor
Food prices have increased again, rocking up the cost of staples such as beef, tomatoes, beans, garri, and yam, the National Bureau of Statistics (NBS) reiterated in its Selected Food Prices Watch report for August 2023 just released.
The NBS said the average price of 1kg of boneless beef rose 30.75 per cent year-on-year (YoY) from N2,141.18 in August 2022 to N2,799.51 in August 2023.
“On a month-on-month [MoM] basis, 1kg of boneless beef increased by 1.50 percent in August from the N2,758.13 recorded in July 2023,″ it noted.
The average price of 1kg of local rice hiked 62.68 per cent YoY from N454.10 in August 2022 to N738.74 in August 2023, and hiked 13.04 per cent MoM from N653.49 in July 2023.
The average price of 1kg of brown beans jumped 27 per cent YoY from N545.61 in August 2022 to N692.95 in August 2023.
“On a month-on-month basis, the price increased by 3.88 per cent from the N673.53 recorded in July 2023 to N692.95 in August,” the NBS added.
It confirmed the average price of 1kg of onion bulb rose 30.54 per cent YoY from N393.22 in August 2022 to N513.29 in August 2023 and “on a month-on-month basis, the price increased by 2.10 percent from the N502.73 recorded in July to N513.29 in August 2023.”
The NBS also disclosed:
- The average price of 1kg of yam tuber increased 42.80 per cent YoY from N403.65 in August 2022 to N576.39 in August 2023, and 6.86 per cent MoM from N539.41 in July to N576.39 in August 2023.
- The average price of 1 litre of palm oil grew 38.13 per cent YoY from N896.63 in August 2022 to N1,238.56 in August 2023, and 2.48 per cent MoM from N1,208.62 in July to N1,238.56 in August 2023.
- The average price of garri jumped 49.16 per cent YoY from N305.92 in August 2022 to N456.32 in August 2023, and 6.15 per cent MoM from N429.89 in July to N456.32 in August 2023.
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Price rises state by state
The highest average price of 1kg of boneless beef was recorded in Anambra at N3,790.02, and the lowest in Kogi at N1,835.71, the NBS said, per Tribune reporting.
Ondo experienced the highest average price of 1kg of local rice at N903.26, Benue the lowest at N529.72.
The highest average price of 1kg of brown beans was seen in Imo at N1,087.14, the lowest in Kogi at N480.34.
The highest average price of 1kg of onion bulb was recorded in Lagos at N847.83, the lowest in Kano at N300.46.
Akwa Ibom saw the highest average price of 1kg of yam tuber at N1,030.71, Adamawa had the lowest at N328.71.
Ogun recorded the highest average price of 1 litre of palm oil at N1,525.49, Kwara the lowest at N920.
The highest average price of 1kg of garri occurred Cross River at N574.32, lowest in Kwara at N336.64.
Price rises zone by zone
The report said the average price of 1kg of boneless beef was highest in the South East at N2,234.60, followed by the South South at N2,312.05. The lowest price in the North Central at N1960.65.
The South East at N887.13 and South South (N809.15) both also had the highest average price of 1kg of local rice. The lowest price was in the North Central at N612.78.
The South East had the highest average price of 1kg of brown beans at N945.63, followed by the South West at N750. The North Central recorded the lowest at N567.67.
The South East (at N712.01) and South South (N699.47) had the highest average price of 1kg of onion bulb. The lowest was in the North East at N355.56.
The South West saw the highest average price of 1kg of yam tuber at N766.48, followed by the South South at N721.37, with the lowest in the North East at N361.21.
The North Central experienced the highest average price of 1 litre of palm oil at N1,335.56; next, the North East at N1,297.21, and the lowest in the South West at N920.
The South East had the highest average price of 1kg garri at N543.35, followed by the South South at N506.60, and the lowest in the North Central at N389.77.
