The rise of food prices in Nigeria reached 26.76% in September

In September, the National Bureau of Statistics (NBS) reported an increase in food prices in Nigeria.

The NBS released its Selected Food Prices Watch report for September 2023 in Abuja on Monday.

According to the report, the average price of 1kg of boneless beef rose by 28.08% from N2,199.37 in September 2022 to N2,816.91 in September 2023.

The report stated, “On a month-on-month basis, 1kg of boneless beef increased by 0.62% in September compared to the N2,799.51 recorded in August 2023.”

Furthermore, the average price of 1kg of local rice increased by 60.59% on a year-on-year basis, going from N471.42 in September 2022 to N757.06 in September 2023.

“On a month-on-month basis, 1kg of local rice increased by 2.48% compared to the N738.74 recorded in August 2023,” the report added.

Additionally, the report revealed that the average price of 1kg of brown beans jumped by 28.76% on a year-on-year basis, rising from N556.81 in September 2022 to N716.97 in September 2023.

“On a month-on-month basis, the price increased by 3.47% from the N692.95 recorded in August 2023 to N716.97 in September 2023,” the report highlighted.

Lastly, the NBS stated that the average price of 1kg of Onion bulb increased by 29.81% on a year-on-year basis, climbing from N397.18 in September 2022 to N515.59 in September 2023.