Python - Converting Date:Price list to new rows

I am trying to convert the following column into new rows:

to

The date:price pairs aren't stored in a traditional dictionary format like the following solution:

Convert dictionary keys to rows and show all the values in single column using Pandas

I managed to get the key:value pairs into individual rows like:

And could split these into two columns using string manipulation but this feels inefficient instead of actually using the key:value pairs. Can anyone help please?

If you have valid lists, explode and split:

df = pd.DataFrame({'Id': ['001', '002'],
                   'Prices':   [["March:59", "April:64", "May:62"], ["Jan:55"]]})

out = df.explode('Prices')
out[['date', 'price']] = out.pop('Prices').str.split(':', expand=True)

If you have strings, str.extractall with a regex and join:

df = pd.DataFrame({'Id': ['001', '002'],
                   'Prices':   ['["March:59", "April:64", "May:62"]', '["Jan:55"]']})

out = (df.drop(columns='Prices') 
          .join(df['Prices'].str.extractall(r'(?P<date>[^":]+):(?P<price>[^":]+)')
                .droplevel('match'))
       )

Output:

    Id   date price
0  001  March    59
0  001  April    64
0  001    May    62
1  002    Jan    55

regex demo for the second approach.