How food prices jumped in October – NBS
The average price of a number of selected food items in the country soared in October, according to the National Bureau of Statistics (NBS) Food Prices Watch report released on Tuesday.
The report revealed that the average price of a 1kg onion bulb increased year-on-year by 32.6% to 405.72 Naira during the review month and 2.2% between September and October.
1kg of rice (sold locally in bulk) saw its average price jump by 17.5% to N487.5 in the twelve months to October 2022.
"Month-over-month, the average price for this item increased 3.40% in October 2022," the statistics office added.
Average price of 1kg of tomato increased on a year-on-year basis, up 30.8% from 454.5 Naira and up 2.10% month-on-month.
The increase in the price of 1 kg bean (sold in bulk) averaged 18% last month compared to the previous year, reaching 564.7 naira.
According to the report, the average price of palm oil (1 bottle) increased by 33.2% from N727.21 in October 2021 to N968.76 in October 2022. However, it has increased by 4.5% month on month - on a monthly basis.
He added that the average price of vegetable oil (1 bottle) stood at N1,106.08 in October 2022, a jump of 34% from October 2021.
Month-on-month, it increased by 2.81%.
At the state level, the highest average price of rice (sold locally in bulk) was recorded in Rivers at 630.66 naira, while Jigawa reported the lowest at 381.54 naira.< /p> ALSO READ: Why Food Prices Are High In Nigeria And What We Are Doing About It - Minister
Ebonyi recorded the highest average price for beans (brown, sold in bulk) at 848.74 naira, while the lowest was reported by Plateau at 360.03 naira.
Abia recorded the highest price for vegetable oil (1 bottle) at 1,484.31 Naira, while Benue recorded the lowest price at 650.89 Naira.
Data on a regional basis showed that the average price of a 1kg onion bulb was highest in the South South and South East at N670.63 and N538.31 respectively, while that the lowest was recorded by the Northeast at N212.83.
The South-South recorded the highest average price of 1 kg of rice (local sold in bulk) at N545.03, followed by the South-West at N519.53, while the lowest was recorded in the Northwest at 435.06 N. .
The South-East recorded the highest average palm oil price (1 bottle) at N1,101.04, followed by the South-West at N1,096.17, while the Center-North recorded the lowest price at N742.62.
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The average price of a number of selected food items in the country soared in October, according to the National Bureau of Statistics (NBS) Food Prices Watch report released on Tuesday.
The report revealed that the average price of a 1kg onion bulb increased year-on-year by 32.6% to 405.72 Naira during the review month and 2.2% between September and October.
1kg of rice (sold locally in bulk) saw its average price jump by 17.5% to N487.5 in the twelve months to October 2022.
"Month-over-month, the average price for this item increased 3.40% in October 2022," the statistics office added.
Average price of 1kg of tomato increased on a year-on-year basis, up 30.8% from 454.5 Naira and up 2.10% month-on-month.
The increase in the price of 1 kg bean (sold in bulk) averaged 18% last month compared to the previous year, reaching 564.7 naira.
According to the report, the average price of palm oil (1 bottle) increased by 33.2% from N727.21 in October 2021 to N968.76 in October 2022. However, it has increased by 4.5% month on month - on a monthly basis.
He added that the average price of vegetable oil (1 bottle) stood at N1,106.08 in October 2022, a jump of 34% from October 2021.
Month-on-month, it increased by 2.81%.
At the state level, the highest average price of rice (sold locally in bulk) was recorded in Rivers at 630.66 naira, while Jigawa reported the lowest at 381.54 naira.< /p> ALSO READ: Why Food Prices Are High In Nigeria And What We Are Doing About It - Minister
Ebonyi recorded the highest average price for beans (brown, sold in bulk) at 848.74 naira, while the lowest was reported by Plateau at 360.03 naira.
Abia recorded the highest price for vegetable oil (1 bottle) at 1,484.31 Naira, while Benue recorded the lowest price at 650.89 Naira.
Data on a regional basis showed that the average price of a 1kg onion bulb was highest in the South South and South East at N670.63 and N538.31 respectively, while that the lowest was recorded by the Northeast at N212.83.
The South-South recorded the highest average price of 1 kg of rice (local sold in bulk) at N545.03, followed by the South-West at N519.53, while the lowest was recorded in the Northwest at 435.06 N. .
The South-East recorded the highest average palm oil price (1 bottle) at N1,101.04, followed by the South-West at N1,096.17, while the Center-North recorded the lowest price at N742.62.
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour. By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.Donate
[embedded content]TEXT ANNOUNCEMENT: Call Willie - +2348098788999
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