Selected Food Price Watch for December 2023 shows that the average price of 1kg Rice local sold loose stood at N917.93. This indicates a rise of 81.35 percent in price on a year-on-year basis from N506.17 recorded in December 2022 and 5.85% rise in price on a month-on-month basis from N867.18 in November 2023. The average price of 1kg of Beef boneless increased by 32.38% on a year-on-year basis from N2,377.29 in December of last year (2022) to N3,146.94 in December 2023. On a month-on-month basis, the average price of this item increased by 3.88% from N3,029.50 in November 2023. The average price of 1kg of Beans brown (sold loose) rose by a 48.54% on a year-on-year basis from N586.14 in December 2022 to N870.67 in December 2023. On a month-on-month basis, it increased by 3.79% from N838.85 in November 2023.

Similarly, the average price of 1kg onion bulb rose by 122.94% on a year-on-year basis from N435.93 in December 2022 to N971.86 in December 2023, while there was an increase of 42.13% on a month-on-month basis. In addition, the average price of 1kg of Tomato rose by 77.60% on a year-on-year basis from N458.42 in December 2022 to N814.16 in December 2023. On a month-on-month basis, it increased by 7.32% from N758.65 in November 2023 to N814.16 in December 2023. 

Data source: National Bureau of Statistics

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