The prices of agric eggs of medium size, evaporated tinned milk(170kg), a bottle of groundnut oil, and 500g unsliced bread increased the most on a year-on-year basis in November 2022, the National Bureau of Statistics (NBS) has announced.
The NBS made this known through its recent Selected Food Prices Watch for November 2022, to the effect that the price of an agric egg increased by 41.15% between November 2021 and November 2022, while the prices of 170g evaporated tinned milk(peak), 170g evaporated tinned milk(carnation), a bottle of groundnut oil, and 500g of unsliced bread increased by 40.64%, 39.9%, 35.15%, and 34.26% respectively on the average across the federation.
“Selected Food Price Watch for November 2022 shows that the average price of 1kg beef boneless stood at N2,337.46 in November 2022. This indicated that on a year-on-year basis, the price rose by 29.00% from the value recorded in November 2021 (N1,812.03), and 3.14% on a month-on-month basis from N2,266.24 in October 2022.
“The average price of 1kg rice (locally sold loose) increased on a year-on-year basis by 18.95% from N421.02 in November 2021 to N500.80 in November 2022. On a month-on-month basis, the average price of this item increased by 2.73% in November 2022,” the NBS stated.
The consistent rise in the prices of staple food items in Nigeria is in line with the nation’s inflationary trend which has maintained an upward trend in the last twelve months. Headline inflation rose to 21.47% in November 2022, highest in seventeen years, according to NBS.
The NBS further stated that the average price of an agric egg of a medium size rose from N57.35 as of November 2021 to N77.64 as of November 2022. The lowest price across the federation in November 2022 was in Akwa Ibom at N70.88 per an egg whereas the residents of Bayelsa pad as much as N99.09 per egg, making the state the most expensive to buy an egg in November 2022.
Evaporated tinned Peak milk 170g increased from N232.69 to N327.26 during the same period. Peak milk was the most expensive in Anambra State at N394.55 and least expensive at Bauchi at N259.16. the price of 170g carnation milk rose from N195.70 to N273.78. the highest price was in Ogun at N370 while the least price across the federation was in Plateau at N190.8.
A bottle of groundnut oil, an essential staple in Nigeria, rose from N887.45 to N1199.39 during the same period. Its price was the most expensive in Ebonyi State at N2000 while it was cheapest in Kogi State at N693.15 in November 2022.