The National Bureau of Statistics (NBS), Nigeria’s national statistical system coordinating agency, has reported that consumers paid more for select food items in December 2022, despite the slowdown in the Consumer Price Index (CPI) during the month.
The Bureau, in its ‘Selected Food Price Watch for December 2022’ reported that in the month under review, the average price of 1kg beef boneless increased to N2,377.29 on a year-on-year (Y-o-Y) basis, indicating a 28.75% rise when compared to the N1,846.39 it was sold in December 2021 and a 1.70% higher on a month-on-month basis from N2,337.46 in November 2022.
The report showed that the average price of 1kg rice (locally sold loose) increased on a year-on-year basis by 19.21% to N506.17 in December 2022 from N424.62 in December 2021 and that on a month-on-month basis, the average price of the item marginally rose by 1.07% in December 2022.
The NBS further disclosed that in the month under review the average price of 1kg of tomato on a year-on-year basis rose by 28.40% to N458.42 in the month under review from N357.03 it was sold in December 2021. Also, it reported that on a month-on-month basis, 1kg of tomato increased to 0.72% from N455.13 in exchanged for in November 2022.
According to the report, the average price of 1kg of onion bulb also rose by 25.64% to N435.93 in December 2022 on a year-on-year basis from N346.96 it was sold in December 2021 while on a month-on-month basis, the price rose by 2.40%.
Also, the statistics agency’s just published report reflected that average price of palm oil (1 bottle, specify bottle) increased on a (Y-o-Y) basis by 28.73% to N1,024.13 in December 2022 from N795.57 in December 2021 and also grew by 1.74% on a month-on-month basis.
The Bureau further reported that the average price of Vegetable oil (1 bottle, specify bottle) stood at N1,161.76 in December 2022, representing an increase of 29.60% from N896.39 it exchanged at in December 2021 while it rose on a month-on-month basis by 1.64% from N1,142.99 in November 2022.
An analysis of the report at the state level indicated that the highest average price of rice (locally sold loose) was recorded in Rivers with N655.92, while the lowest was recorded in Jigawa with N386.01.
Similarly, Cross River State recorded the highest average price of 1kg onion bulb with N1,013.96, while the lowest was reported in Kogi with N198.12.
The Bureau also reported that Imo recorded the highest price of Vegetable oil (1 bottle, specify bottle) at N1,597.22, while Benue recorded the lowest at N702.78.
