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The NBS in its Selected Food Prices Watch for September 2023 showed that on a month-on-month basis, the average price of rice increased by 2.48% from N738.74 in August 2023 in Nigeria.
The NBS in its Selected Food Prices Watch for September 2023 showed that on a month-on-month basis, the average price of rice increased by 2.48% from N738.74 in August 2023 in Nigeria. The report also showed that the average price of 1kg of beef boneless stood at N2, 816.91. This indicated a 28.08% rise in price on a year-on-year basis from N2, 199.37 recorded in September 2022 and a 0.62% rise in price on a month-on-month basis from N2, 799.51 in August 2023. The price of 1kg of brown beans (sold loose) also rose by 28.76% on a year-on-year basis from N556.81 in September 2022 to N716.97 in September 2023. On a month-on-month basis, it increased by 3.47% from N692.95 in August 2023.
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The NBS had earlier reported that the food inflation for September 2023 was 30.64%. In a related development, NBS in its Transport Fare Watch for September 2023, reports that the average fare paid by commuters for bus journeys within the city per drop increased by 117.29 percent from N615.69 in September 2022 to N1, 337.80 in September 2023. On a month-on-month basis, the fare increased by 0.11 percent from N1, 336.38 in August. In another category, the average fare paid by commuters for bus journey intercity per drop rose by 56.12% from N3,790.06 in September 2022. It, however, declined by 0.02% on a month-on-month basis to N5,917.16 in September 2023, compared to N5,918.18 in August 2023.
