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Nigeria's headline inflation rate eased to 15.43 per cent in July 2026, down from 15.91 per cent recorded in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The report showed that the July figure was significantly lower than the 24.94 per cent recorded in the corresponding period of 2025, reflecting a continued slowdown in the annual rate of price increases.
On a month-on-month basis, headline inflation stood at 1.57 per cent in July, compared with 1.66 per cent in June, indicating that prices still rose during the month but at a slower pace than in the previous month.
The NBS said the 0.48 percentage point decline in the annual headline inflation rate suggests a moderation in overall inflationary pressures across the economy.
However, food prices continued to exert pressure on household spending despite the decline in headline inflation.
According to the report, food inflation rose to 20.31 per cent year-on-year in July 2026, compared with 26.20 per cent in July 2025.
On a monthly basis, food inflation accelerated to 5.56 per cent in July from 3.75 per cent in June, representing an increase of 1.82 percentage points.
The figures indicate that while overall inflation slowed, the cost of food continued to rise at a faster monthly pace, highlighting persistent challenges in food supply and affordability.
The full July 2026 Consumer Price Index (CPI) Report is available on the National Bureau of Statistics website.
