Nigeria’s headline inflation rate eased to 15.43 percent in July 2026, down from 15.91 percent recorded in June, according to the latest Consumer Price Index report by the National Bureau of Statistics, NBS
The report shows that inflation declined by 0.48 percentage points year-on-year, while the rate was significantly lower than the 24.94 percent recorded in July 2025.
On a month-on-month basis, inflation stood at 1.57 percent in July, compared with 1.66 percent in June, indicating that the pace of increase in average prices moderated during the month.
Despite the moderation in headline inflation, food prices remained a major pressure point. Food inflation rose to 20.31 percent year-on-year, although this was lower than the 26.20 percent recorded in July 2025.
On a month-on-month basis, however, food inflation accelerated sharply to 5.56 percent, from 3.75 percent in June.
The NBS attributed the monthly increase in food prices to changes in the prices of commodities including crayfish, fresh pepper, onions, carrots, rice, water yam, tomatoes, garri, plantain, beef, eggs and guinea corn.
Food and non-alcoholic beverages remained the largest contributor to headline inflation, accounting for 6.18 percent, followed by restaurants and accommodation services at 1.99 percent and transport at 1.64 percent. Housing, water, electricity, gas and other fuels contributed 1.30 percent.
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(Editor: Terverr Tyav)
