Selected Food Price Watch for May 2023 shows that the average price of 1kg of Beef boneless stood at N2,520.52 in May 2023. This indicates a 24.19% rise in price on a year-on-year basis, from N2,029.59 recorded in May 2022 and a 1.00% rise in price on a month-on-month basis from N2,495.69 in April 2023. The average price of 1kg of Tomato increased by 17.68% on a year-on-year basis from N423.48 in May 2022 to N498.34 in May 2023. On a month-on-month basis, the average price of this item increased by 2.73% in May 2023. The average price of 1kg of Rice local (sold loose) rose by 24.06% on a year-on-year basis from N447.51 in May 2022 to N555.18 in May 2023.

On a month-on-month basis, it increased by 1.54% from N546.76 in April 2023. Similarly, the average price of 1kg of Onion bulb rose by 17.12% on a year-on-year basis from N387.53 in May 2022 to N453.86 in May 2023, and on a month-on-month basis, the price increased by 2.83%. The average price of 1kg of Yam tuber rose by 22.84% on a year-on-year basis from N372.23 in May 2022 to N457.25 in May 2023. On a month-on-month basis, it increased by 2.83% from N444.69 in April 2023.

Data source: National Bureau of Statistics

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