Food Prices Experience Surge in November

Soukaina Sghir
Soukaina Sghir
2 Min Read
Food Prices

The National Bureau of Statistics (NBS) has reported an increase in the prices of essential food items such as beef, rice, beans, onions, and tomatoes in November.

The average price of 1kg of boneless beef witnessed a notable rise of 29.61%, soaring from N2,337.46 in November 2022 to N3,029.50 in November 2023.

According to the Selected Food Prices Watch report for November released in Abuja on Friday, the month-on-month comparison revealed a 2.76% increase in the price of 1kg of boneless beef from N2,948.03 in October to N3,029.50 in November.

Furthermore, the report highlighted a substantial year-on-year surge of 73.16% in the average price of 1kg of local rice, escalating from N500.80 in November 2022 to N867.18 in November 2023. Every month, the price increased by 5.83%, rising from N819.42 in October 2023 to N867.18 in November 2023.

Brown beans also experienced a significant year-on-year increase of 44.99%, with the average price of 1kg rising from N578.55 in November 2022 to N838.85 in November 2023. Monthly, the price surged by 6.18%, moving from N790.01 in October 2023 to N838.85 in November 2023.

The report further indicated a 60.62% year-on-year increase in the average price of 1kg of onion bulb, climbing from N425.71 in November 2022 to N683.78 in November 2023. Every month, the price rose by 15.35%, increasing from N592.80 in October 2023 to N683.78 in November 2023.

Additionally, the average price of 1kg of tomatoes surged by 66.69% on a year-on-year basis, escalating from N455.13 in November 2022 to N758.65 in November 2023.

These findings reflect the challenges facing consumers as they grapple with the persistent increase in the prices of essential food items.

Soukaina Sghir

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