Rising prices of food items… as catalsyt of inflation SOURCE: Google
The National Bureau of Statistics (NBS) said that prices of food items such as yam, rice and beef witnessed increases in January.
This is contained in NBS Selected Food Prices Watch Report for January 2023 released in Abuja on Thursday.
The report said the average price of 1kg beef boneless on a year-on-year basis, increased by 29.72 per cent from N1, 864.70 in January 2022 to N2,418.91 in January 2023.
“On a month-on-month basis, 1kg beef boneless increased by 1.75 per cent from N2, 377. 29 recorded in December 2022. ”
The report showed that the average price of 1kg rice (local, sold loose) increased on a year-on-year basis by 19.67 per cent from N430.21 in January 2022 to N514.83 in January 2023.
“On a month-on-month basis, the average price of this item increased by 1.71 per cent from N506.17 recorded in December 2022’’, the report said.
The report also said the average price of 1kg of tomato on a year-on-year basis, rose by 27.26 per cent from N367.01 in January 2022 to N467.04 in January 2023.
“Also, on a month-on-month basis, 1 kg of tomato increased by 1.88 per cent from N458.42 recorded in December 2022.’’
The report showed that the average price of 1kg brown beans (sold loose) rose by 19.06 per cent on a year-on-year basis from N498.85 recorded in January 2022 to N593.96 in January 2023.