Nigeria’s headline inflation rate fell to 15.43 per cent in July 2026, down from 15.91 per cent in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday.
The NBS said the July figure represents a 0.48 percentage-point decline from the June rate, indicating a slower increase in the overall price level during the month.
On a month-on-month basis, headline inflation also eased to 1.57 per cent in July, compared with 1.66 per cent in June, a decline of 0.09 percentage points.
Despite the moderation in headline inflation, food prices continued to put pressure on consumers. Food inflation rose to 20.31 per cent year-on-year in July, compared with 17.52 per cent recorded in June, according to the NBS data.
The statistics agency attributed the food inflation figure to changes in the average prices of several food items, including crayfish, fresh pepper, onions, carrots, rice, water yam, tomatoes, garri, plantain, beef, eggs, guinea corn, ginger and plantain flour.
On a month-on-month basis, food inflation stood at 5.56 per cent in July, up from 3.75 per cent in June, representing a 1.82 percentage-point increase.
The NBS also reported that core inflation, which excludes volatile agricultural produce and energy prices, stood at 14.97 per cent year-on-year in July.
The latest figures therefore show a mixed movement in consumer prices: while the overall inflation rate moderated, food costs recorded a sharper increase during the month, continuing to exert pressure on household budgets.
