Food items like yam, beans, beef and other items prices increased in August.
Food prices increased in August - NBS
Food prices increased in August (Credit: Premium Times Nigeria)
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The National Bureau of Statistics (NBS) says prices of beef, tomatoes, beans, garri, yam and other food items increased in August.
It made the declaration in its Selected Food Prices Watch report for August 2023 issued in Abuja. The report stated that while the average price of 1kg of boneless beef was ₦2,141.18 in August 2022, it increased by 30.75% to ₦2,799.51 in August 2023.
“On a month-on-month basis, 1kg of boneless beef increased by 1.50% in August from the ₦2,758.13 recorded in July 2023,’’ the report stated.
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It added that the average price of 1kg of local rice increased by 62.68% on a year-on-year basis, from ₦454.10 in August 2022 to ₦738.74 in August 2023. On a month-on-month basis, 1kg of local rice increased by 13.04% from the ₦653.49 recorded in July 2023.
It stated that the average price of 1kg of brown beans increased by 27% on a year-on-year basis from ₦545.61 in August 2022 to ₦692.95 in August 2023.
“On a month-on-month basis, the price increased by 3.88% from the ₦673.53 recorded in July 2023 to ₦692.95 in August,’’ it added.
The NBS reported that the average price of 1kg of onion bulb rose by 30.54% on a year-on-year basis from ₦393.22 in August 2022 to ₦513.29 in August 2023.
“On a month-on-month basis, the price increased by 2.10% from the ₦502.73 recorded in July to ₦513.29 in August 2023,’’ it stated.
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The report added that the average price of 1kg of yam tuber increased by 42.80% on a year-on-year basis from ₦403.65 in August 2022 to ₦576.39 in August 2023. On a month-on-month basis, 1kg of yam tuber increased by 6.86% from ₦539.41 recorded in July to ₦576.39 recorded in August 2023.
It stated that the average price of 1 litre of palm oil increased by 38.13% on a year-on-year-basis, from ₦896.63 in August 2022 to ₦1,238.56 in August 2023. On a month-on-month basis, it rose by 2.48% from the ₦1,208.62 recorded in July to ₦1,238.56 recorded in August 2023.
Average price of garri increased by 49.16 per cent on a year-on-year-basis, from ₦305.92 in August 2022 to ₦456.32 in August 2023, the NBS stated. On a month-on-month basis, the price increased by 6.15% from the ₦429.89 recorded in July to ₦456.32 recorded in August 2023.
On state profile analysis, the report showed that the highest average price of 1kg of boneless beef was recorded in Anambra at ₦3,790.02, while the lowest price was recorded in Kogi at ₦1,835.71. It stated that Ondo recorded the highest average price of 1kg of local rice at N903.26, while the lowest was recorded in Benue at ₦529.72.
The NBS stated that the highest average price of 1kg of brown beans was recorded in Imo at ₦1,087.14, while the lowest price was recorded in Kogi at ₦480.34. In addition, the highest average price of 1kg of onion bulb was recorded in Lagos at ₦847.83, while the lowest was recorded in Kano state at ₦300.46.
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The report stated that Akwa Ibom recorded the highest average price of 1kg of yam tuber at ₦1,030.71, while Adamawa recorded the lowest price at ₦328.71. It said that Ogun recorded the highest average price of 1 litre of palm oil at ₦1,525.49, while Kwara recorded the lowest price at ₦920.
The NBS reported also that the highest average price of 1kg of garri was recorded in Cross River at ₦574.32, while the lowest price was recorded in Kwara at ₦336.64. Analysis by zone showed that the average price of 1kg of boneless beef was highest in the Southeast at ₦2,234.60.
This is followed by the South-South at ₦2,312.05, while the lowest price was recorded in the North-Central at ₦1960.65. The Southeast and South-South recorded the highest average price of 1kg of local rice at ₦887.13 and ₦809.15, respectively, while the lowest price was in the North-Central at ₦612.78.
The report stated that the Southeast recorded the highest average price of 1kg of brown beans at ₦945.63, followed by the Southwest at ₦750, while the North-Central recorded the lowest price at ₦567.67.
It added that the Southeast and South-South recorded the highest average price of 1kg of onion bulb at ₦712.01 and ₦699.47, respectively, while the lowest was recorded in the Northeast at ₦355.56.
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The NBS stated also that the Southwest recorded the highest average price of 1kg of yam tuber at N766.48, followed by the South-South at ₦721.37, while the lowest price was recorded in the North-East at ₦361.21.
It reported that the North-Central recorded the highest average price of 1 litre of palm oil at ₦1,335.56, followed by the North-East at ₦1,297.21, while the lowest was recorded in the Southwest at ₦920. The report added that the Southeast recorded the highest average price of 1kg garri at ₦543.35, followed by the South-South at ₦506.60.
“The North-Central recorded the lowest price of garri at ₦389.77,’’ the NBS stated.
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