Prices of rice, beans, others rise, says NBS report

Prices of food items in Nigeria including rice, beans and beef have continued to rice as shown in a new report of November 2022 figures, the National Bureau of Statistics (NBS) has said.

This is contained in the NBS Selected Food Prices Watch Report for November 2022, released in Abuja on Monday.

The report said that the average price of 1kg boneless beef on a year-on-year basis, increased by 29 per cent from N1,812.03 in November 2021 to N2,337.46 in November 2022.

It stated, “While on a month-on-month basis, 1kg boneless beef increased by 3.14 per cent from N2,266.24 recorded in October 2022.”

It showed that the average price of 1kg rice (local) 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 from N487.47 recorded in October 2022,” it stated.

The report said 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, 1 kg of tomato increased by 0.15 per cent from N454.46 recorded in October 2022.”

Also, the report showed that the average price of 1kg brown beans (sold loose) rose by 18.03 per cent on a year-on-year basis from N490.19 recorded in November 2021 to N578.55 in November 2022.

“While on a month-on-month basis, the price rose by 2.45 per cent from N564.69 recorded in October 2022.”

The NBS said the average price of palm oil (1 bottle) increased by 29.87 per cent from N775.11 in November 2021 to N1,006.64 in November 2022.

“On a month-on-month basis, the item grew by 3.91 per cent from the N968.76 recorded in October 2022.”

It said the average price of vegetable oil (one 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 recorded in October 2022.”

The report said at the state level, the highest average price of rice (local, sold loose) was recorded in Rivers at N632.05, while the lowest price was recorded in Jigawa at N378.81.

It said Ebonyi state recorded the highest average price of beans (brown, sold loose) at N868.33, while the lowest was recorded in Kebbi state at N365.71.

Also, the report said Ekiti recorded the highest price of Vegetable oil (1 bottle) at N1,584.31, while Kwara recorded the lowest price at N693.08.

An analysis by zone shows that the average price of 1kg boneless beef was higher in the South-East and South-South at N2,851.51 and N2,570.87, respectively, while the lowest price of the item was recorded in the North-East at N1,971.83.”

The report said the South-South recorded the highest average price of 1kg rice (local, sold loose) at N555.80, followed by the South-West at N526.41, while the lowest price was recorded in the North-West at N457.16.

It said the South-West recorded the highest average price of Palm oil (1 bottle) with N1,174.30, followed by the North-West at N1,129.63, while the North-East recorded the lowest price at N765.04.