Nigeria’s headline inflation rate falls to 15.43%, as food index rises

Nigeria’s headline Inflation rate fell for the second consecutive month by 0.48 percentage point to 15.43 percent in July from 15.91 percent in June.

This means that in July 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in June 2026.

The National Bureau of Statistics, NBS, disclosed this today in its Consumer Price Index (CPI) Report for July.

“In July 2026, the headline inflation rate stood at 15.43 percent, down from 15.91 percent in June 2026 and stood at
24.94 percent in the same month of the preceding year (July 2025).

“Looking at the movement, the July 2026
headline inflation rate showed a decrease of 0.48 percent compared to the June 2026 Headline inflation rate.
“On a month-on-month basis, the Headline inflation rate in July 2026 was 1.57 percent, which was 0.09 percent lower than the rate recorded in June 2026 (1.66 percent ).

However, the food inflation rate rose by 2.79 percentage points to 20.31 percent in July from 17.52 percent in June owing to change in the average prices crayfish, pepper (fresh), onions (fresh), carrots
(fresh), rice, water yam, tomatoes (fresh), garri, plantain, beef, egg, guinea corn, ginger, plantain flour, etc.

The bureau added: “In July 2026, food inflation on a Year-on-Year basis was highest in Adamawa (51.36 percent), Katsina (30.84 percent), and Zamfara (30.65 percent), while Borno (-0.31 percent), Nasarawa (6.88 percent) and Kebbi (12.50 percent) recorded the slowest rise in food inflation on a Year-on-Year basis.

“On a Month-on-Month basis, howev-
er, July 2026 Food inflation was highest in Adamawa (17.02 percent), Lagos (13.48 percent) and Borno (13.26 percent),
while Jigawa (-3.68 percent), Kebbi (-3.67%), and Bauchi (-1.85 percent) recorded the slowest rise in Food infla-tion on a Month-on-Month basis.”