According to the National Bureau of Statistics (NBS), food costs such as yam, beans, and meat increased in March. This is featured in the NBS Selected Food Prices Watch Report for March 2023, which was issued on Wednesday in Abuja.
According to the research, the average price of 1kg of boneless beef climbed by 25.05 percent year on year, from N1, 982.92 in March 2022 to N2, 479.61 in March 2023.
“On a month-on-month basis, 1kg beef boneless increased by 1.38 per cent from N2, 445.96 recorded in February 2023.” The report also said the average price of 1kg of tomato on a year-on-year basis, rose by 13.81 per cent from N409.96 in March 2022 to N466.60 in March 2023.
“However, on a month-on-month basis, 1kg of tomato declined by 0.32 per cent from N468.09 recorded in February 2023. The report also showed that the average price of 1kg of brown beans (sold loose) increased by 13.13 per cent 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 per cent from N594.15 recorded in February 2023.” Similarly, it said the average price of 1kg of onion bulb rose by 17.37 per cent on a year-on-year basis, from N378.59 in March 2022 to N444.37 in March 2023.
“While on a month-on-month basis, it dropped by 1.27 per cent from N450.07 recorded in February 2023.” The report said the average price of 1kg of Yam tuber rose by 25.30 per cent on a year-on-year basis from N353.56 in March 2022 to N443.02 in March 2023.
“On a month-on-month basis,1kg tuber of yam increased by 1.51 per cent from N436.41 recorded in February 2023.” In addition, the average price of one bottle of vegetable oil stood at N1, 220.62 in March 2023, showing an increase of 25.80 per cent from N970.29 recorded in March 2022.
“On a month-on-month basis, it rose by 2.00 per cent from N1, 196.68 recorded in February 2023.” The report said at the state level, the highest average price of 1kg of beef (boneless) was recorded in Anambra at N3,107.44, while the lowest was recorded in Kogi at N1,778.00.
According to the report, Edo had the highest tomato price at N901.23, while Kogi had the lowest at N196.41. According to the research, Ebonyi had the highest price for beans brown (sold loose) at N906.00, while Kebbi had the lowest at N352.70.
According to the report, Cross River state had the highest average price for a 1kg onion bulb at N981.86, while Taraba had the lowest at N205.50. According to the NBS, the price of one kilogram of yam was N900.80 in Akwa Ibom and N188.60 in Taraba.
According to the survey, Abia had the highest price of Vegetable oil (1 bottle) at N1,618.21, while Benue had the lowest at N720.00.
According to a zone analysis, the average price of 1kg of boneless beef was greatest in the South-East at N3,044.46, while the North-Central recorded the lowest at N2,077.44.
It said the average price of 1kg of tomato was highest in the South-South at N811.13, while the lowest was recorded in the North-East at N237.52.
The report said the South-East recorded the highest average price of 1kg of brown beans (sold loose) at N793.71, while the lowest was recorded in the North-East at N479.30.
