Price of beans rises to N517 from N457

ddbe beans
ddbe beans

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.

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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.

 

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