Selected Food Prices Watch (June 2022)

Executive Summary

Selected Food Price Watch for the month of June 2022 shows that the average price of 1kg of beans (white, black eye, sold loose) rose on a year-on-year basis by 24.17% from N431.79 in June 2021 to N536.17 in June 2022. Also, on a month-on-month basis, this increased by 2.19% from N524.70 in May 2022. The average price of 1kg Yam tuber increased on a year-on-year basis by 30.64% from N294.29 in June 2021 to N384.48 in June 2022. On a month-on-month basis, the average price of this item increased by 3.29% in June 2022. Similarly, the average price of 1kg beef (boneless) rose by 26.83% on a year-on-year basis from N1,639.96 in June 2021 to N2,079.93 in June 2022. In addition, the average price of Groundnut oil: 1 bottle, specify bottle stood at N1,062.90 in June 2022, showing an increase of 42.07% from N748.16 in June 2021. On a month-on-month basis, it rose by 2.12% from N1,040.88 in May 2022.

Data source: National Bureau of Statistics