…..as intercity transport fares surge by 55.25%
Food consumers in Nigeria paid an average of 30% increase for food items in June this year when compared to what they paid for the commodities in the corresponding period of last year, the National Bureau of Statistics (NBS) has reported.
The statistics agency, which gave this data in its ‘Selected Food Price Watch (June 2023’ report published on Friday, reported that prices of staple foods increased by 12% on a month-to-month basis.
The selected food items covered in the report include rice, beans, wheat, yam, tomato, beef, bread, and vegetables, among others etc.
The report indicated that the average cost of 1kg of boneless beef increased by 5.26% from N2,520.52 in May to N2,653.02 in June 2023 and on a year-on-year basis, the average cost of the item surged by 27.55% in the month under review from the price by consumers in June 2022.
According to the Bureau, rice, which is one of Nigeria’s major staple foods, recorded an average price increase from N555.18 per kg in May to N608.20, representing a 9.55% spike in June this year.
The ‘Selected Food Price Watch (June 2023)’ report also reflected that Nigerians paid 32.17% more for a kilogramme of rice in June 2023 than they did in June 2022 when the price was N460.17.
Similarly, consumers of tomato paid N547.2 8 average price per kg in June, representing 24% increase over the price paid in June 2022 but that on a month-on-month basis, the price of tomato per kg increased from N555.18 to N608.20, or 9.55% spike.
A further analysis of the report indicated that the average price of a 1kg tuber of yam surged by 32.85% from June 2022 to June 2023, reflecting an increase of 11.70% increase month-on-month while the average price for wheat flour per 2kg for June 2023 stood at N1380, indicating a 28% jump from its price as of June 2022.
Similarly, the report showed that the average price of 1kg of Onion bulb rose by 24.84% on a year-on-year basis from N393.32 in June 2022 to N491.04 in June 2023.
On a month-on-month basis, it increased by 8.19% from the previous month. The average price of 1kg of Yam tuber rose by 32.85% on a year-on-year basis from N384.48 in June 2022 to N510.77 in June 2023. On a month-on-month basis, it increased by 11.70% from N457.25 in May 2023.
On state profile analysis, the highest average price of 1kg of Beef boneless was recorded in Imo state with N3,480.35, while the lowest was recorded in Kogi state with N1806.25. The highest average price of 1kg of Tomato was recorded in Akwa Ibom with N1,013.9, while the lowest was recorded in Kogi with N217.37.
The average price of 1kg of Rice local (sold loose) was highest in Ondo with N826.09, while Jigawa recorded the least with N420.86. Cross River recorded the highest average price of 1kg of Onion bulb with N968.15, while the lowest was reported in Zamfara with N286.13.
The highest average price of 1kg of Yam tuber was recorded in Akwa Ibom with N985.04, while the least was recorded in Adamawa with N249.82.
In addition, analysis by zone showed that the average price of 1kg of Beef boneless was highest in the South-East with N3,329.27, followed by the South-South with N2,754.57, while the South-West recorded the lowest with N2,358.44.
The average price of 1kg of Tomato was highest in the South-South with N918.64, followed by the South-East with N691.89, while the lowest was recorded in the North-East with N340.06.
The South-South recorded the highest average price of 1kg of Rice local (sold loose) with N721.16, followed by the South-West with N668.08, while the lowest was recorded in the North-West with N514.06. The average price of 1kg of Onion bulb was highest in the South-South with N706.13, followed by the South- East with N663.64, while the North-East recorded the lowest with N328.12.
The highest average price of 1kg of Yam tuber was recorded in the South-West with N684.36, followed by the South-South with N624.85, while the North-East recorded the least with N310.61
In recent months, food prices in the country have sustained an upward trend based on the general price level in the economy. For instance, the statistics agency reported that June inflation rate stood at 22.71%, the highest in about 18 years.
…..as intercity transport fares surge by 55.25%
In a related report titled ‘Transport Fare Watch (June 2023)’ report, the Bureau disclosed that the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09% on a month-on-month basis compared to N4,002.16 in May 2023.
The Bureau clarified, however, that on a year-on-year basis, the fare rose by 55.25% from N3,662.87 in June 2022.
In another category, the average fare paid by air passengers for specified routes’ single journey increased by 4.93% from N74,948.78 in May 2023 to N78,640.54 in June 2023 while on a year-on-year basis, the fare rose by 40.22% from N56,082.64 in June 2022.
According to the statistics agency, the average transport fare paid on Okada transportation was N618.52 in June 2023 which was 33.14% higher than the rate recorded in May 2023 (N464.55). On a year-on-year basis, the fare rose by 48.34% when compared with June 2022 (N416.97).
The Bureau further reported that water transport (waterway passenger transportation), the average fare paid in June 2023 increased to N1,366.22 from N1,045.15 in May 2023 while on a year-on-year basis, the fare surged by 44.84% from N943.26 reported in June last year
The ‘Transport Fare Watch (June 2023)’ report covers bus journey within the city per drop constant route; bus journey intercity (state route) charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport.
