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HomeMarketsNBS reports Hike in Prices of Food in January

NBS reports Hike in Prices of Food in January

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The National Bureau of Statistics said prices of food items such as yam, rice and beef increased 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 one kilogramme of 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, one kilogramme of beef boneless increased by 1.75 per cent from N2, 377. 29 recorded in December 2022, it said.

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.

It explained that 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, and the average price of one kilogramme 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.

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