Food prices jump to 2.25 percent in October nationwide – NBS

user_icon Food prices jump to 2.25 percent in October nationwide – NBS Posted by: NOTICE.COM.NG Staff
calendar-icon Food prices jump to 2.25 percent in October nationwide – NBS Posted on: 2022-12-01 09:01:50
Food prices jump to 2.25 percent in October nationwide – NBS UTAKO-MARKET-579781



The prices of selected food items increased by 2.15 percent in October nationwide.

A report stated that food prices in the country’s northern part are lower than in the southern region. For instance, rice is sold at the highest price in River State compared to Jigawa with the lowest price.

Press learnt this on Wednesday during the presentation of the National Bureau of Statistics Prices Watch Report for October in Abuja.

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It noted that the average price of 1kg onion bulb, on a year-on-year basis, jumped by 32.56 percent from N306.07 reported in October 2021 to N405.72 in the same period in 2022.

“While on a month-on-month basis, 1 kg of onion bulb increased to N405.72 in Oct. 2022 from N397.18 recorded in Sept. 2022, indicating a 2.15 per cent increase,” the report said.

The report showed that the average price of 1kg rice (local, sold loose) increased on a year-on-year basis by 17.45 per cent from N415.03 recorded in Oct. 2021 to N487.47 in Oct. 2022.

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Rice, bread, brown beans, palm and vegetable oil increased in different degrees.

The NBS said the average price of 1kg of tomato jumped yearly by 30.79 per cent from N347.47 recorded in October 2021 to N454.46 in Oct. 2022.

Also, the report showed that on a month-on-month basis, 1 kg of tomato increased by 2.10 per cent from N445.12 in Sept. 2022.

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Also, the report showed that the average price of 1kg brown beans (sold loose) increased by 17.95 per cent on a year-on-year basis, from N478.76 recorded in Oct. 2021 to N564.69 in Oct. 2022.

The data indicated that the average price of Palm oil (a bottle) rose by 33.22 percent from N727.21 recorded in October last year to the sum of N968.76 in Oct. 2022.

Similarly, the price of a bottle of vegetable oil stood at N1, 106.08 in Oct. 2022, representing a 33.99 per cent increase from N825.46 recorded in Oct. 2021.

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In the case of sliced bread, the report said that the average price of 500g rose by 36.68 per cent on a year-on-year basis from N382.77 reported in October 2021 to N523.16 in Oct. 2022.

On a state level, the highest average price of rice (particularly local rice) was recorded in Rivers at N630.66 compared to Jigawa, recording the lowest price at N381.54.

Ebonyi reported the highest average price of beans (brown beans ) sold at N848.74 compared with Plateau, which recorded the lowest at N360.03.

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In Cross River, the price of 1kg of onion bulb recorded the highest average price, which stood at N980.62, while Benue recorded the lowest price at N180.34.

Delta State recorded the average highest price of a 1kg tomato at N824.55 against Taraba with the lowest price at N166.67.

In Abuja, the price of 500kg sliced bread recorded an average highest at N705.00 as against Plateau, which recorded the lowest price at N310.00.

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On a zonal level analysis, the report showed that the average price of 1kg onion bulb was higher in the South-South and South-East at N670.63 and N538.31, respectively, while the lowest price was recorded in the North-East at N212.83.

The report disclosed that South-South recorded the highest average price of 1kg rice (local, sold loose) at N545.03, followed by the South-West with N519.53, while the lowest price was recorded in the North-West at N435.06.

Also, the report showed that the South-East recorded the highest average price of Palm oil (1 bottle) at N1, 101.04, followed by the South-West at N1, 096.17, while the North-Central recorded the lowest.

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