Selected Food Price Watch for October 2022 shows that the average price of 1kg onion bulb on a year-on-year basis, rose by 32.56% from the value recorded in October 2021 (N306.07) to N405.72 in October 2022. On a month-on-month basis, it increased to N405.72 in October 2022 from N397.18 in September 2022 indicating a 2.15% increase. The average price of 1kg rice (local sold loose) increased on a year-on-year basis by 17.45% from N415.03 in October 2021 to N487.47 in October 2022. On a month-on-month basis, the average price of this item increased by 3.40% in October 2022.
The average price of 1kg of Tomato rose on a year-on-year basis by 30.79% from N347.47 in October 2021 to N454.46 in October 2022. Also, on a month-on-month basis, it increases to 2.10% from N445.12 in September 2022. Similarly, the average price of 1kg bean (sold lose) rose by 17.95% on a year-on-year basis from N478.76 in October 2021 to N564.69 in October 2022.
In addition, the average price of Palm oil: (1 bottle, specify bottle) increased by 33.22% from N727.21 in October 2021 to N968.76 in October 2022. It also grew by 4.47% on a month-on-month basis. In the same vein, the average price of Vegetable oil (1 bottle, specify bottle) stood at N1,106.08 in October 2022, showing an increase of 33.99% from N825.46 in October 2021. On a month-on-month basis, it rose by 2.81% from N1,075.89 in September 2022.
Data source: National Bureau of Statistics