By Abimbola Ogunnaike
The National Bureau of Statistics (NBS) has disclosed that following fuel subsidy removal, the prices of food items such as tomato, rice, and yams have increased in May.
The NBS made thisw disclosure on Tuesday, 4 July, 2023 in its Food Prices Watch Report for May.
An overview of the report showed that the prices of tomato, yam, rice, onion, meat have have skyrocketed.
For instance, the report stated that the average price of 1kg of tomato yearly rose by 17.68 per cent from N423.48 in May 2022 to N498.34 in May 2023.
It said that the average price of 1kg of local rice (sold loose) increased by 24.06 per cent year-on-year, from N447.51 in May 2022 to N555.18 in May 2023.
Similarly, the report stated that the average price of 1kg yam tuber increased by 22.84 per cent year-on-year from N372.23 in May 2022 to N457.25 in May 2023.
The NBS said the average price of 1kg of Onion bulb rose by 17.12 per cent year-on-year from N387.53 in May 2022 to N453.86 in May 2023.
The report stated that the average price of 1kg of boneless beef increased by 24.19 per cent from N2,029.59 recorded in May 2022 to N2,520.52 in May 2023.
The state profile analysis showed that the highest average price of 1kg of tomato was recorded in Edo at N957.95, while the lowest was in Kogi at N215.43.
It stated that Ondo recorded the highest price of 1kg of local rice (sold loose) at N724.81, while Jigawa recorded the lowest price at N369.09.
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