From Isaac Anumihe, Abuja
National Bureau of Statistics (NBS), at the weekend, disclosed that the price of 1kg of beans (white, black eye, sold loose) rose on a year-on-year basis by 12.94 per cent from N 457.98 in August 2021 to N517.23 in August 2022.
This is as the average price of bread sliced 500g increased on a year-on-year basis by 33.12 per cent from N366.69 in August 2021 to N488.14 in August 2022. On a month-on-month basis, the average price of this item increased by 0.38 per cent in August 2022.
Similarly, the average price of 1kg beef (boneless) rose by 26.09 per cent on a year-on-year basis from N1,698.18 in August 2021 to N2,141.18 in August 2022. In addition, the average price of groundnut oil: 1 bottle, specify bottle stood at N1, 087.64 in August 2022, showing an increase of 33.83 per cent from N812.70 in August 2021.
On a month-on-month basis, it rose by 0.88 per cent from N1, 078.17 in July 2022. The average price of 1kg yam tuber on a year-on-year basis, rose by 32.12 per cent from the value recorded in August 2021 (N305.48) to N403.63 in August 2022.
On a month-on-month basis, it increased to N403.63 in August 2022 from N389.75 in July 2022 indicating 3.56 per cent increase. In the same vein, the average price of palm oil: (1 bottle, specify bottle) increased by 34.08 per cent from N668.71 in August 2021 to N896.63 in August 2022. It also grew by 0.67 per cent on a month-on-month basis.