Food prices, pinching pockets, says NBS

Reports by the National Bureau of Statistics (NBS) have revealed that food prices again went up, hitting consumers’ wallets hard. In their presentation of “Selected Food Prices Watch Report” for July 2023, the Bureau looked at some common foods like beef, tomatoes, beans, and yams. Here’s the scoop:

1. The price of 1 kilogramme (kg) of boneless beef has shot up by a whopping 30% from N2,118.84 in July 2022 to N2,758.13 in July 2023.

2. Tomatoes are also feeling the heat, becoming about 25% pricier, going from N446.81 to N557.96 per 1kg.

3.  If you are a fan of brown beans, brace yourself for their price has jumped nearly 20%, from N562.55 to N673.53 per kilogramme.

4. Onions are shedding tears too, going up by roughly 27%, from N396.96 to N502.73 per kilogramme.

5. Even the humble yam is not spared, with a 38% price increase, going from N389.75 to N539.41 for every 1kg.

6. And don’t forget your cooking oil for a litre of palm oil has increased to about 36% more expensive, from N890.67 to N1208.62.

How prices vary from place to place:

1. Anambra takes the crown for the most expensive 1 kg of boneless beef at N3,500.84, while Kogi offers a budget-friendly option at N1,812.44.

2. For tomatoes, Akwa Ibom tops the list at N1,001.73, while Kogi keeps things affordable at N220.00.

3.  Ebonyi is the priciest place for brown beans at N1,022.45, but Katsina offers a bargain at N474.99.

4.  Abia holds the record for the highest onion prices at N819.00, while Kano keeps it low at N297.41.

5. Akwa Ibom serves up the most expensive yam at N999.61, while Adamawa gives you a deal at N281.33.

6. Ogun is where you’ll find the highest palm oil prices at N1,480, while Kogi keeps it wallet-friendly at N890.22.

Let’s look at regions:

1. In the South-East, beef prices are soaring at N3,390.38, followed closely by the South-South at N2,805.91. But if you’re in the North-East, you’ll find relief with prices at N2,418.44.

2.  If you love tomatoes, the South-South and South-East regions are hitting you hard at N917.63 and N735.96, respectively. Meanwhile, the North-East offers some tomato-saving grace at N353.37.

3. For brown beans, the South-East leads at N921.54, followed by the South-West at N731.48. In the North-Central, it is a better deal at N550.10. Hence, while shopping for groceries and foodstuff trade; it is vital to keep an eye on these rising prices as well as the more pocket-friendly regions. Remember, your wallet and budget might thank you for it!