Selected Food Price Watch for March 2023 shows that the average price of 1kg of Beef (boneless) stood at N2,479.61 in March 2023. This indicates a rise in price by 25.05% on a year-on-year basis from the price recorded in March 2022 (N1,982.92) and a 1.38% rise in price on a month-on-month basis from N2,445.96 in February 2023. The average price of 1kg of Tomato increased by 13.81% on a year-on-year basis from N409.96 in March 2022 to N466.60 in March 2023. On a month-on-month basis, the average price of this item declined by 0.32% in March 2023.

Also, the average price of 1kg of Beans brown (sold loose) rose by 13.13% on a year-on-year basis from N527.66 in March 2022 to N596.96 in March 2023. On a month-on -month basis, it increased by 0.47% from N594.15 in February 2023. Similarly, the average price of 1kg of Onion bulb rose by 17.37% on a year-on-year basis from N378.59 in March 2022 to N444.37 in March 2023. On a month-on-month basis, it declined by 1.27% from its value in February 2023.

The average price of 1kg of Yam tuber rose by 25.30% on a year-on-year basis from N353.56 in March 2022 to N443.02 in March 2023. On a month-on -month basis, it increased by 1.51% from N436.41 in February 2023. In addition, the average price of Vegetable oil (1 bottle, specify bottle) stood at N1,220.62 in March 2023, showing an increase of 25.80% from N970.29 in March 2022. On a month-on-month basis, this rose by 2.00% from N1,196.68 in February 2023. 

Data source: National Bureau of Statistics

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