Selected Food Price Watch for February 2023 shows that the average price of 1kg Beef boneless stood at N2,445.96 in February 2023. This indicated that on a year-on-year basis, the price rose by 27.43% from the value recorded in February 2022 (N1,922.2), and 1.12% on a month-on-month basis from N2,418.91 in January 2023.
The average price of 1kg of Tomato increased on a year-on-year basis by 19.08% from N393.08 in February 2022 to N468.09 in February 2023. On a month-on-month basis, the average price of this item increased by 0.22% in February 2023. The average price of 1kg of Rice (locally sold loose) on a year-on-year basis rose by 19.30% from N436.58 in February 2022 to N520.84 in February 2023. Also, on a month-on-month basis, it increased by 1.17% from N514.83 in January 2023. Similarly, the average price of 1kg of Onion bulb rose by 18.99% on a year-on-year basis from N378.26 in February 2022 to N450.07 in February 2023. While on a month-on-month basis, the price rose by 0.81%.
The average price of 1kg Yam tuber on a year-on-year basis rose by 28.45% from N339.76 in February 2022 to N436.41 in February 2023. Also, on a month-on-month basis, it increased by 1.17% from N431.36 in January 2023. In the same vein, the average price of Vegetable oil (1 bottle, specify bottle) stood at N1,196.68 in February 2023, showing an increase of 25.91% from N950.46 in February 2022. On a month-on-month basis, it rose by 1.10% from N1,183.67 in January 2023.
Data source: National Bureau of Statistics