The National Bureau of Statistics (NBS) said in its May “Specified Food Price Monitoring” report that prices of foods such as tomatoes, rice and yams were rising as the consumer price index continued to rise.
According to the report, the average price of a kilogram of tomato rose 17.68 per cent year-on-year, from N423.48 in May 2022 to N498.34 in May 2023. The number of tomatoes increased by 2.73 per cent in May, compared to Naira 485.10 in April 2023. .
The average price of 1kg of locally grown rice (bulk) increased by 24.06 per cent year-on-year, from N447.51 in May 2022 to NGN555.18 in May 2023, it said. May rose 1.54% from 546.76 Naira in April 2023. Similarly, the average price of a kilogram of yam rose from Naira 372.23 in May 2022 to Naira 457.25 in May 2023, up 22.84 per cent year-on-year, the report said. The number of 1kg yam tubers increased by 2.83 per cent from 444.69 nairo in April 2023.
According to NBS, the average price of 1 kg of onion bulbs rose 17.12 percent year-on-year, from Naira 387.53 in May 2022 to Naira 453.86 in May 2023. Prices rose 2.83 percent month-on-month in May. N441.38 in April 2023,” NBS added.
The average price of a kilogram of boneless beef rose by 24.19% from N2,029.59 in May 2022 to N2,520.52 in May 2023, according to the report. The amount of one kilogram of boneless beef per month increased by 1.00% in May compared to NGN 2,495.69 in April 2023, according to the report.
The report analyzed state profiles and found that the highest average price per kilogram of tomato was Naira 957.95 in Edo and the lowest in Kogi at Naira 215.43. According to the report, the highest price for 1 kg of locally grown rice (sold in bulk) was 724.81 Naira at Ondo, and the lowest at 369.09 Naira at Jikawa.
According to the report, the highest average price for a kilogram of onion bulbs was N960.82 in Cross River and the lowest was N334.21 in Katsina. According to NBS, the highest average price of 1 kg of yams was N924.17 for him in Akwa Ibom, and the lowest was N214.79 for him in Benue. Furthermore, the highest average price of 1 kg of boneless beef was Naira 3,475.04 in Imo State and the lowest was Naira 1,790.14 in Kogi State. According to the zone-by-zone analysis, the average price per kg of tomatoes was highest in the South-South and South-East at Naira 866.36 and Naira 665.68 respectively, while the lowest price was recorded in the North-East at Naira 276.64.
The highest average price per kilogram of locally grown rice (bulk) was NGN 654.00 in the South South region, followed by the Southwest region at NGN 619.24, and the lowest price in the Northwest region at NGN 477.06.
According to the report, the average price of 1 kg of onion bulbs was highest in the south and south regions at NGN 687.01, followed by the southeast at NGN 649.45 and the lowest at NGN 261.39 in the northeast.
The highest average price of 1kg of yams was Naira 632.60 in the Southwest, followed by the South East at Naira 600.74 and the lowest in the Northeast at Naira 229.45. According to the report, the average price of a kilogram of boneless beef was highest in the Southeast at NGN 3,278.98, followed by the South at NGN 2,699.04.
