Food prices sustain rise into August — NBS
Prices of foodstuffs maintained a steady increase across the country into the month of August, according to data released by the National Bureau of Statistics (NBS).
NBS stated this in it Food Price Watch report for the month of August.
According to the report, the average price for 1kg of rice locally sold loose in August 2023 was N738.74.
This reflects a substantial 62.68 per cent year-on-year increase from August 2022 (N454.10). On a month-on-month basis, there was a 13.04 per cent increase from July 2023 (N653.49).
“The average price for 1kg of Beef boneless in August 2023 was N2, 799.51, which represents a 30.75% increase compared to August 2022 (N2,141.18).
On a month-on-month basis, there was a 1.50% increase from July 2023 (N2,758.13).
“The average price for 1kg of Beans brown (sold loose) in August 2023 was N692.95.
“This indicates a 27.00% year-on-year increase from August 2022 (N545.61).
“On a month-on-month basis, there was a 3.88% increase from July 2023 (N673.53).
“On a month-on-month basis, there was a 6.86% increase from July 2023 (N539.41).
“The average price for 1 bottle of Vegetable oil in August 2023 was N1,389.14.
“This indicates a 32.36% year-on-year increase from August 2022 (N1,049.49).
“On a month-on-month basis, there was a 1.76% increase from July 2023 (N1,365.17),” the NBS report read.
