SUN, 30 OCT, 2022-theGBJournal| Nigerian consumers are reeling from continued increases in food prices across the country, with cost of selected food items such as tomatoes, beans, rice and palm oil rising by as much as 30.06% in September 2022.
Spiking food inflation has been a huge headache for consumers for consumers and policymakers since the beginning of year. Transportation and oil prices have been on the increase and insecurity have greatly impacted food cultivation, particularly in the Northern part of the country, and recent flooding across the country is set to further compound the already dire situation.
The latest data published by the National Bureau of Statistics (NBS) underscores the food nightmare for Nigerian households. The data for instance, shows that the average price of 1kg Tomato on a year-on-year basis, rose by 30.06% from the value recorded in September 2021 (N342.25) to N445.12 in September 2022. On a month-on-month basis, it increased to N445.12 in September 2022 from N430.93 in August 2022 indicating a 3.29% increase.
The average price of 1kg rice (local sold loose) increased on a year-on-year basis by 14.98% from N410.01 in September 2021 to N471.42 in September 2022. On a month-on-month basis, the average price of this item increased by 3.82% in September 2022.
The average price of 1kg of beans (brown, sold loose) rose on a year-on-year basis by 13.14% from N492.13 in September 2021 to N556.81 in September 2022. Also, on a month-on-month basis, it increases to 2.05% from N545.61 in August 2022. Similarly, the average price of 1kg beef (boneless) rose by 24.39% on a year-on-year basis from N1,768.14 in September 2021 to N2,199.37 in September 2022.
In addition, the average price of Palm oil: (1 bottle, specify bottle) increased by 30.70% from N709.50 in September 2021 to N927.34 in September 2022. It also grew by 3.42% on a month-on-month basis. In the same vein, the average price of Vegetable oil (1 bottle, specify bottle) stood at N1, 075.89 in September 2022, showing an increase of 32.35% from N812.94 in September 2021. On a month-on-month basis, it rose by 2.52% from N 1049.49 in August 2022.
At the state level, the highest average price of rice (local sold loose) was recorded in Rivers with N621.61, while the lowest was recorded in Jigawa with N371. Ebonyi recorded the highest average price of beans (brown, sold loose) with N857.02, while the lowest was reported in Benue with N368.21. In addition, Abia recorded the highest price of Vegetable oil (1 bottle, specify bottle) at N1,464.44, while Benue recorded the lowest at N643.64.
Analysis by zone showed that the average price of 1kg tomato was higher in the South-South and South-East with N711.32 and N643.25 respectively, while the lowest was recorded in the North-East with N209.22. the South-South recorded the highest average price of 1kg rice (local sold loose) with N519.22, followed by the South-West with N514.37, while the lowest was recorded in the North-West with N417.00.
Similarly, South-East recorded the highest average price of Beans ‘’brown sold loose” with N789.74, followed by the South-South with N673.16, while the North-East recorded the least with N397.04.
Some Nigerian food stuff sellers have blamed the unabating insecurity in the country as well as rising fuel and transportation costs for the price rise.
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