Nigeria’s headline inflation rate declined to 33.40 per cent in July, says NBS amid President Bola Tinubu’s harsh economic policies.
Mr Odogwu said Thursday that the high cost of edible products was caused by greed among those who sell them.
A five litres of groundnut oil formerly sold for N7,000 now sells for N11,000.
The South-east region was said to be the most affected by the increase in food prices.
According to NBS, the average price of a bottle of groundnut oil was N1,078.17 in July 2022, a 40.24 per cent increase from N768.81 in July 2021.
The prices of polished rice dropped from N33,000 to N29,000 and N28,000 depending on quality.
