Prices of staple food items including beef, tomato, onion, and a host of others soared in July, according to the “Selected Food Price Watch for July 2023,” released today by the National Bureau of Statistics (NBS).
The report shows that the average price of 1kg of Beef boneless stood at N2,758.13 in July 2023. This indicates 30.17% rise in price on a year-on-year basis from N2,118.84 recorded in July 2022 and 3.96% rise in price on a month-on-month basis from N2,653.02 in June 2023.
The average price of 1kg of Tomato increased by 24.88% on a year-on-year basis from N446.81 in July 2022 to N557.96 in July 2023.
On a month-on-month basis, the average price of this item increased by 1.95% from N547.28 in June 2023. The average price of 1kg of Beans brown (sold loose) rose by 19.73% on a year-on-year basis from N562.55 in July 2022 to N673.53 in July 2023. On a month-on-month basis, it increased by 3.44% from N651.12 in June 2023.
Similarly, the average price of 1kg of Onion bulb rose by 26.65% on a year-on-year basis from N396.96 in July 2022 to N502.73 in July 2023, while on a month-on-month basis, there was an increase of 2.38%.
The average price of 1kg of Yam tuber rose by 38.40% on a year-on-year basis from N389.75 in July 2022 to N539.41 in July 2023.
On a month-on-month basis, it increased by 5.61% from N510.77 in June 2023. In addition, the average price of Vegetable oil (1 bottle, specify bottle) stood at N1,365.17 in July 2023, showing an increase of 31.07% from N1,041.58 in July 2022. On a month-on-month basis, it rose by 3.25% from N1,322.24 in June 2023.
Analysis by zone showed that the average price of 1kg of Beef boneless was highest in the South-East with N3,390.38, followed by the South-South with N2,805.91, while the North-East recorded the lowest with N2,418.44.
Across the states
On a state-by-state basis, the report showed the highest average price of 1kg of Beef boneless was recorded in Anambra state with N3,500.84, while the lowest was recorded in Kogi state with N1,812.44.
The highest average price of 1kg of Tomato was recorded in Akwa Ibom with N1,001.73, while the lowest was recorded in Kogi with N220.00.
In terms of the average price of 1kg of Beans brown (sold loose), Ebonyi recorded the highest price with N1,022.45, while Katsina recorded the least with N474.99.
Abia recorded the highest average price of 1kg of Onion bulb with N819.00, while the lowest was reported in Kano with N297.41. 5 The highest average price of 1kg of Yam tuber was recorded in Akwa Ibom with N999.61, while the least was recorded in Adamawa with N281.33.
Furthermore, Abia recorded the highest average price of Vegetable oil (1 bottle, specify bottle) with N1,810.00, while Kwara recorded the lowest with N852.00.
Regional analysis
Also, analysis by zone showed that the average price of 1kg of Beef boneless was highest in the South-East with N3,390.38, followed by the South-South with N2,805.91, while the North-East recorded the lowest with N2,418.44.
The average price of 1kg of Tomato was highest in the South-South and South-East with N917.63 and N735.96 respectively, while the lowest was recorded in the North-East with N353.37.
The South-East recorded the highest average price of 1kg of Beans brown (sold loose) with N921.54, followed by the South-West with N731.48, while the lowest was recorded in the North-Central with N550.10
