National Bureau of Statistics (NBS), yesterday, expressed concerns that average prices of foodstuffs and transport fares have hit the rooftop.
In its November food price report, the Bureau said that average price of 1kg beef boneless for instance stood at N2,337.46 in November 2022.
It stated that this was indication of the fact that on a year-on-year basis, the price rose by 29.00 per cent from the value recorded in November 2021 (N1,812.03), and 3.14 per cent on a month-on-month basis from N2,266.24 in October 2022.
The average price of 1kg rice (locally sold loose) increased on a year-on-year basis by 18.95 per cent from N421.02 in November 2021 to N500.80 in November 2022. On a month-on-month basis, the average price of this item increased by 2.73 per cent in November 2022.
“The average price of 1kg of Tomato on a year-on-year basis rose by 30.18 per cent from N350.15 in November 2021 to N455.13 in November 2022. Also, on a month-on-month basis, it increases to 0.15 per cent from N454.46 in October 2022.
Similarly, the average price of 1kg bean brown (sold loose) rose by 18.03 per cent on a year-on-year basis from N490.19 in November 2021 to N578.55 in November 2022. While on a month-on-month basis, the price rose by 2.45 per cent.
In addition, the average price of palm oil: (1 bottle, specify bottle) increased by 29.87 per cent from N775.11 in November 2021 to N1,006.64 in November 2022. It also grew by 3.91 per cent on a month-on-month basis. In the same vein, the average price of vegetable oil (1 bottle, specify bottle) stood at N1,142.99 in November 2022, showing an increase of 30.41 per cent from N876.47 in November 2021. On a month-on-month basis, it rose by 3.34 per cent from N1,106.08 in October 2022.
At the state level, the highest average price of rice (locally sold loose) was recorded in Rivers with N632.05, while the lowest was recorded in Jigawa with N378.81. Ebonyi recorded the highest average price of beans (brown, sold loose) with N868.33, while the lowest was reported in Kebbi with N365.71. In addition, Ekiti recorded the highest price of vegetable oil (1 bottle, specify bottle) at N1,584.31, while Kwara recorded the lowest at N693.08.3
“Analysis by zone showed that the average price of 1kg beef boneless was higher in the South-East and South-South with N2,851.51 and N2,570.87 respectively, while the lowest was recorded in the North-East with N1,971.83. The South-South recorded the highest average price of 1kg rice (locally sold loose) with N555.80, followed by the South-West with N526.41, while the lowest was recorded in the North-West with N457.16. Similarly, the South-West recorded the highest average price of palm oil: (1 bottle, specify bottle) with N1,174.30, followed by the North-West with N1,129.63, while the North-East recorded the least with N765.04,” the bureau said.