NBS: Food Prices Surge Nationwide, Prompting Concerns Over Affordability

In a report unveiled by the National Bureau of Statistics on Friday, the cost of essential food items has surged across the nation, escalating worries about affordability and accessibility for consumers.

The findings, reflective of November 2023 data, underscored startling spikes in the prices of various kitchen staples compared to previous months and the same period last year.

According to the report, the average price of crucial commodities such as brown beans, onion bulbs, and tomatoes experienced substantial increases.

Speaking on these concerning statistics, a representative from the NBS commented, “The analysis for November 2023 indicates a distressing surge in food prices, reflecting challenges in supply chains and market dynamics.”

Among the notable figures highlighted, the price of a kilogram of brown beans surged by 6.18% from October 2023, marking a 44.99% increase compared to November 2022. Similarly, the cost of onion bulbs soared by 60.62% year-on-year, while tomatoes saw a 66.69% increase over the same period.

The report revealed stark regional disparities, with Lagos recording the highest average price of rice, reaching an alarming N1,122.42 for a kilogram of local rice, whereas Kebbi state registered the lowest at N688.00. Likewise, Anambra State stood out with the highest average price of beef boneless at N3,850.47, while Yobe State reported the lowest at N2,533.33.

Furthermore, the analysis delved into regional variations, with Imo State showcasing the highest price for a kilogram of brown beans at N1,109.75, whereas Jigawa reported the lowest at N575.00. Anambra State also recorded the highest average price for loose onion bulbs at N872.23, in contrast to Gombe with the lowest at N506.41.

The disparity in food prices extended across zones, with the South-South region leading in the cost of tomatoes at N1,307.66, while the North-West reported the lowest at N434.80.

The concerning surge in food prices has sparked conversations about strategies to alleviate the burden on consumers, with stakeholders calling for proactive measures to ensure food affordability and security across the nation.