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Statistics Reveal that Food Prices Skyrocketed in July 2022 in Nigeria.

Statistics Reveal that Food Prices Skyrocketed in July 2022 in Nigeria.

The National Bureau of Statistics -NBS, has revealed that the prices of specific food items rose in July. This was revealed through the Selected Food Prices Watch Report for the July 2022 edition released on Monday in Abuja.

The NBS confirmed that the average price of a kilo of white beans rose by 23.22 % from 444.21 naira in July 2021 to 547.38 naira in July 2022. Also, the average price of a kilo of tomatoes increased by 7.71 % from 414.83 naira it retailed in July 2021 to 446.81 it retailed in July 2022. The reports also revealed that the highest average price of a kilo of tomato was recorded in Edo at 799.16 naira, while the lowest was recorded in Taraba at 159.14 naira.

The Southeast recorded the highest average price of tomato at N678.80, per kilogram, followed by the Northwest at N656.93, while the lowest was recorded in the Northeast at N194.72.

The average price of a kilo of beef had risen in July 2022 to cost about N2,118.84, increasing by about 27.58 %.

A bottle of groundnut oil had retailed at N1,078.17 in July 2022, increasing by 40.24 %. 

The average price of one bottle of palm oil cost N890.67 in July 2022, rising by 40.19 %.

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It added that the average price of 1kg of local rice increased on a year-on-year basis by 13.55 percent from N411.97 in July 2021 to N467.80 in July 2022.

The highest recorded average price of brown beans cost 853.19 naira per kilogram in the South East followed by the Southwest at 598.00 nairas. The Northeast recorded the least price at N379.03. 

The highest price of a kilo of local rice was seen in the Northwest, with the commodity costing 796.03 naira, which is the highest recorded price in July 2022, followed by the Southwest at 519.64 naira.

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