The National Bureau of Statistics reports that in November, prices for a number of food items increased (NBS).
This is confirmed by the Selected Food Prices Watch Report for November 2022, which was released on Monday by the National Bureau of Statistics.
According to the data, the average cost of a kilogramme of boneless beef increased by 3.14 percent from the previous month's N2,266.24 to N2,337.46 in November 2022, representing a 29 percent increase over the same month last year. An average kilogramme of boneless beef cost N1,812,03 in November 2021.
“Selected Food Price Watch for November 2022 shows that the average price of 1kg beef boneless stood at N2,337.46 in November 2022.”
This represented an increase of 29.00% from the figure recorded in November 2021 (N1,812.03) and an increase of 3.14% 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% 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% in November 2022.
“The average price of 1kg of Tomato on a year-on-year basis rose by 30.18% from N350.15 in November 2021 to N455.13 in November 2022. Also, on a month-on-month basis, it increases to 0.15% from N454.46 in October 2022.”
According to the data presented, the cost of brown beans (sold loose) increased from an average of N490.19 per kilogramme in November 2021 to N578.55 in November 2022. The price increased by 2.45% as compared to the previous month.
The average price of Palm oil grew from N775.11 per bottle in November 2021 to N1,006.64 per bottle in November 2022, a 29.87% increase. Additionally, monthly growth was 3.91 percent. As another example, in November 2022 the average price of a bottle of vegetable oil (1 bottle) was N1,142.99, up 30.41% from the November 2021 average of N876.47. From October 2022’s N1,106.08, it increased by 3.34 percent month-over-month in November 2022.
The lowest average price of rice (locally sold loose) was found in Jigawa (at N378.11), while Rivers had the highest at N632.05.
Beans (brown, sold loose) averaged N868.33 in Ebonyi and N365.71 in Kebbi. Vegetable oil (1 bottle, specify bottle) was most expensive in Ekiti (N1,584.31) and least expensive in Kwara (N693.08).
The report’s zone-by-zone analysis revealed that the average cost of 1 kilogramme of boneless beef was highest in the South-East and South-South, at N2,851.51 and N2,570.87, respectively, and lowest in the North-East, at N1,971.83.
The average price of 1 kilogramme of rice (locally sold loose) was highest in the South-South (N555.80), then in the South-West (N526.41), and lowest in the North-West (N457.16).
Similarly, the South-West region had the highest average price of Palm oil: (1 bottle) at N1,174.30, followed by the North-West at N1,129.63, and the North-East at N765.04.