NBS: Nigeria’s Inflation Rate Declines to 15.43%

Nigeria’s headline inflation rate fell from 15.91 percent in June to 15.43 percent in July 2026, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).

The NBS said the July figure represents a 0.48 percentage-point decrease from the June rate.

On a month-on-month basis, headline inflation stood at 1.57 percent in July, down from 1.66 percent in June, indicating a slower increase in the average price level.

Food Inflation Rises to 20.31%

Despite the decline in headline inflation, food inflation increased to 20.31 percent year-on-year in July 2026.

The NBS attributed the rise to higher prices of commodities including rice, water yam, plantain, crayfish, fresh pepper, onions, carrots, tomatoes, garri, beef, eggs, guinea corn and ginger.

Food inflation also increased significantly on a month-on-month basis, reaching 5.56 percent in July, compared with 3.75 percent in June.

The states with the highest month-on-month food inflation were Adamawa (17.02%), Lagos (13.48%) and Borno (13.26%), while Jigawa (-3.68%), Kebbi (-3.67%) and Bauchi (-1.85%) recorded declines.