Nigeria’s Inflation Drops to 15.43% in July as Food Prices Continue to Rise – NBS
Mirian Gom 
ABUJA, Nigeria – Nigeria’s headline inflation rate declined to 15.43 per cent in July 2026 from 15.91 per cent recorded in June, signalling a moderation in the pace of overall price increases despite continued pressure on food prices.
The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index (CPI) report released on Monday.
According to the bureau, the July headline inflation rate represented a 0.48 percentage point decline from the previous month.
NBS also reported that month-on-month headline inflation slowed to 1.57 per cent in July, compared to 1.66 per cent recorded in June.
“This means that in July 2026, the rate of increase in the average price level was lower than the rate of increase recorded in June 2026,” the bureau stated.
Despite the moderation in headline inflation, food prices continued to rise sharply.
The NBS said food inflation increased to 20.31 per cent year-on-year in July, driven largely by higher prices of rice, water yam, plantain, tomatoes, onions, pepper, garri, beef, eggs, ginger and other staple food items.
On a month-on-month basis, food inflation rose to 5.56 per cent from 3.75 per cent in June, representing an increase of 1.82 percentage points.
According to the bureau, Adamawa recorded the highest month-on-month food inflation rate at 17.02 per cent, followed by Lagos at 13.48 per cent and Borno at 13.26 per cent.
Meanwhile, Jigawa (-3.68 per cent), Kebbi (-3.67 per cent) and Bauchi (-1.85 per cent) recorded declines in food inflation during the month.
On a year-on-year basis, Adamawa posted the highest food inflation rate at 51.36 per cent, followed by Katsina at 30.84 per cent and Zamfara at 30.65 per cent.
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