Nigeria Records Rise in Prices of Food in September- NBS

Nigeria Records Rise in Prices of Food in September- NBS

 The National Bureau of Statistics (NBS), says prices of beef, rice, beans, onion, yam and other food items increased in September. It said this in its Selected Food Prices Watch report for Monday’s September 2023 release in Abuja.

The report said that the average price of 1kg of boneless beef increased by 28.08 per cent from N2,199.37 recorded in September 2022 to N2,816.91 in September 2023.

“On a month-on-month basis, 1kg of boneless beef increased by 0.62 per cent in September from the N2,799.51 recorded in August 2023,’’ the report said. It said that the average price of 1kg of local rice increased by 60.59 per cent year-on-year, from N471.42 in September 2022 to N757.06 in September 2023.

“On a month-on-month basis, 1kg of local rice increased by 2.48 per cent from the N738.74 recorded in August 2023.’’

It said that the average price of 1kg of brown beans increased by 28.76 per cent year-on-year from N556.81 in September 2022 to N716.97 in September 2023.

“On a month-on-month basis, the price increased by 3.47 per cent from the N692.95 recorded in August 2023 to N716.97 in September 2023.’’

The NBS said the average price of 1kg of Onion bulb rose by 29.81 per cent year-on-year from N397.18 in September 2022 to N515.59 in September 2023.

“On a month-on-month basis, the price increased by 0.45per cent from N513.29 recorded in August 2023.’’ The report said that the average price of 1kg of Yam tuber increased by 45.11 per cent year-on-year from N409.23 in September 2022 to N593.83 in September 2023.

“On a month-on-month basis, 1kg of yam tuber increased by 3.03 per cent from the recorded N576.39 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 N3,800.42, while the lowest price was recorded in Kogi at N1,845.29.

It said that Rivers recorded the highest average price of 1kg of local rice at N931.82, while the lowest was recorded in Benue at N539.35. The NBS said that the highest average price of 1kg of brown beans was recorded in Imo at N1,090.23 while the lowest price was recorded in Kogi at N485.64.

It said the highest average price of 1kg of onion bulb was recorded in Abia at N862.35, while the lowest was recorded in Nasarawa at N295.73. According to the report, Akwa Ibom recorded the highest average price of 1kg of yam tuber at N1,088.57, while Plateau recorded the lowest price at N320.34

Analysis by zone showed that the average price of 1kg of boneless beef was highest in the South-East at N3,550.75, followed by the South-West at N2, 875.47.

“The lowest price was recorded in the North-Central at N2.461.20.” The South-East and South-South recorded the highest average price of 1kg of local rice at N901.26 and N824.55, respectively, while the lowest price was in the North-Central at N621.93.

The report said that the South-East recorded the highest average price of 1kg of brown beans at N995.76, followed by the South-West at N771.37, while the North-Central recorded the lowest price at N587.99.

It said that the South-East and South-South recorded the highest average price of 1kg of onion bulb at N723.63 and N697.34 respectively, while the lowest was recorded in the North-Central at N340.75.

The NBS also said that the South-West recorded the highest average price of 1kg of yam tuber at N791.69, followed by the South-South at N748.56. The North-East recorded the lowest price of 1kg of yam at N366.79,’’ the NBS said #Naira Devaluation Deepens Economic Crisis in Nigeria

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