Federal finance and statistics / National Bureau of Statistics

Selected Food Prices Watch (May 2023)

Executive Summary 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…