Food prices soared in July – NBS

The National Bureau of Statistics has announced how Nigeria’s food prices fared for July.

The NBS recently disclosed this in its ‘Selected Food Watch (July 2023)’.

The average price of boneless meat increased by 30.17 per cent to N2,758.13 per kg in July 2023 from N2,118.84 recorded in the same month last year.

On a month-on-month basis, meat prices increased by 3.96 per cent from N2,653.02 in June 2023.

The average price of 1kg of tomato increased by 24.88 per cent year-on-year from N446.81 in July 2022 to N557.96 in July 2023.

On a month-on-month basis, the average price of this item increased by 1.95 per cent from N547.28 in June 2023. The average price of 1kg of beans brown (sold loose) rose by 19.73 per cent annually from N562.55 in July 2022 to N673.53 in July 2023. On a month-on-month basis, it increased by 3.44 per cent from N651.12 in June 2023.

Similarly, the average price of 1kg of onion bulb rose by 26.65 per cent on a year-on-year basis from N396.96 in July 2022 to N502.73 in July 2023, while on a month-on-month basis, there was an increase of 2.38 per cent. The average price of 1kg of yam tuber rose by 38.40 per cent year-on-year from N389.75 in July 2022 to N539.41 in July 2023.

On a month-on-month basis, it increased by 5.61 per cent from N510.77 in June 2023.

In addition, the average price of vegetable oil (1 bottle, specified bottle) stood at N1,365.17 in July 2023, showing an increase of 31.07 per cent from N1,041.58 in July 2022. On a month-on-month basis, it rose by 3.25 per cent from N1,322.24 in June 2023.