The average price of a number of selected food items in the country soared in October, according to the National Bureau of Statistics (NBS)’s “Food Prices Watch” published on Tuesday.
The report found that the average price of a 1kg onion bulb rose year-on-year by 32.6 per cent to N405.72 in the review month and by 2.2 per cent between September and October.
1kg of rice (local sold loose) saw an average price jump of 17.5 per cent to N487.5 in the twelve months to October 2022.
“On a month-on-month basis, the average price of this item increased by 3.40 per cent in October 2022,” the statistics office added.
The average price of 1kg of Tomato rose on an annual basis, scaled up by 30.8 per cent from N454.5 and by 2.10 per cent month on month.
The price increase of 1kg bean (sold loose) averaged 18 per cent last month compared to a year earlier, climbing to N564.7.
According to the report, the average price of palm oil (1 bottle) increased by 33.2 per cent from N727.21 in October 2021 to N968.76 in October 2022. However, it grew by 4.5 per cent on a month-on-month basis.
It added that the average price of vegetable oil (1 bottle) stood at N1,106.08 in October 2022, a jump of 34 per cent compared to October 2021.
On a month-on-month basis, it rose by 2.81 per cent.
At the state level, the highest average price of rice (local sold loose) was recorded in Rivers at N630.66, while Jigawa reported the lowest at N381.54.
Ebonyi recorded the highest average price of beans (brown, sold loose) at N848.74, while the lowest was reported by Plateau at N360.03.
Abia recorded the highest price of vegetable oil (1 bottle) at N1,484.31, while Benue recorded the lowest at N650.89.
Data on a regional basis showed that the average price of a 1kg onion bulb was highest in the South-South and South-East at N670.63 and N538.31 respectively, while the lowest was recorded by the North-East at N212.83.
The South-South recorded the highest average price of 1kg rice (local sold loose) at N545.03, followed by the South-West at N519.53, while the lowest was recorded in the North-West at N435.06.
The South-East recorded the highest average price of palm oil (1 bottle) at N1,101.04, followed by the South West at N1,096.17 while the North-Central recorded the least at N742.62.
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