Prices of Rice, Tomato, Beans, Others Surge

December 27, 2022
Tomatoes

By Adedapo Adesanya

The average price of basic food staples like rice, tomato, and beans, among others, increased in November, confirming assumptions that Nigerians are seeing a further tightening in the cost of living.

This was contained in the latest Selected Food Price Watch for November 2022, released by the National Bureau of Statistics (NBS) on Tuesday.

The average price of 1kg rice (locally sold loose) increased on a year-on-year basis by 18.9 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 in November 2022.

The average price of 1kg of Tomato on a year-on-year basis rose by 30.2 per cent from N350.15 in November 2021 to N455.13 in November 2022. Also, on a month-on-month basis, it increases to 0.2 per cent from N454.46 in October 2022.

Similarly, the average price of 1kg bean brown (sold lose) rose by 18.0 per cent on a year-on-year basis from N490.19 in November 2021 to N578.55 in November 2022. While on a month-on-month basis, the price rose by 2.5 per cent.

In addition, the average price of palm oil (1 bottle) increased by 29.9 per cent from N775.11 in November 2021 to N1,006.64 in November 2022. It also grew by 3.9 per cent on a month-on-month basis.

In the same vein, the average price of vegetable oil (1 bottle) stood at N1,142.99 in November 2022, showing an increase of 30.4 per cent from N876.47 in November 2021. On a month-on-month basis, it rose by 3.3 per cent from N1,106.08 in October 2022.

The NBS data also showed that the average price of 1kg beef boneless stood at N2,337.46 in November 2022.

This indicated that on a year-on-year basis, the price rose by 29 per cent from the value recorded in November 2021 (N1,812.03), and 3.1 per cent on a month-on-month basis from N2,266.24 in October 2022.

At the state level, the highest average price of rice (locally sold loose) was recorded in Rivers with N632.05, while the lowest was recorded in Jigawa with N378.81. Ebonyi recorded the highest average price of beans (brown, sold loose) with N868.33, while the lowest was reported in Kebbi with N365.71.

In addition, Ekiti recorded the highest price of vegetable oil (1 bottle) at N1,584.31, while Kwara recorded the lowest at N693.08.

Analysis by zone showed that the average price of 1kg beef boneless was higher in the South -East and South-South with N2,851.51 and N2,570.87, respectively, while the lowest was recorded in the North-East with N1,971.83. The South-South recorded the highest average price of 1kg rice (locally sold loose) with N555.80, followed by the South-West with N526.41, while the lowest was recorded in the North-West with N457.16.

Similarly, the South-West recorded the highest average price of Palm oil: (1 bottle, specify bottle) with N1,174.30, followed by the North-West with N1,129.63, while the North-East recorded the least with N765.04.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Leave a Reply

NDLEA drug syndicate
Previous Story

US Provides Forensic, Intelligence Tools for NDLEA

teachers in kwara
Next Story

Nigeria Without Teachers

Latest from Economy

Don't Miss