Nigeria’s headline inflation rate slowed to 15.43 per cent in July 2026 from 15.91 per cent in June, according to the National Bureau of Statistics.
The 0.48 percentage point decline extended the moderation recorded in the previous month, although consumers continued to face significant pressure from food prices.
On a month on month basis, headline inflation eased to 1.57 per cent from 1.66 per cent in June, indicating that prices were still rising but at a slower overall pace.
The Consumer Price Index increased to 145.3 points in July from 143.0 points in June.
Average headline inflation for the 12 months ending July stood at 16.89 per cent, substantially below the 29.10 per cent recorded in the corresponding period of 2025.
Food inflation remained the strongest source of pressure.
Month on month food inflation rose to 5.56 per cent in July from 3.75 per cent in June.
On a year on year basis, food inflation stood at 20.31 per cent, compared with 26.20 per cent in July 2025.
The statistics agency attributed the increase in food prices to higher costs of items including crayfish, fresh pepper, onions, carrots, rice, water yam, tomatoes, garri, plantain, beef, eggs, guinea corn, ginger and plantain flour.
Average annual food inflation for the 12 months ending July was 16.06 per cent, down from 30.85 per cent a year earlier.
Core inflation, which excludes volatile agricultural produce and energy, stood at 14.97 per cent year on year.
Month on month core inflation slowed sharply to 0.15 per cent from 1.66 per cent in June, suggesting weaker underlying price pressures outside food and energy.
Urban inflation stood at 16.12 per cent year on year, while rural inflation was 13.77 per cent.
At the state level, Adamawa recorded the highest year on year headline inflation at 33.03 per cent, followed by Yobe at 25.21 per cent and Anambra at 23.99 per cent.
Nasarawa recorded the lowest headline rate at 7.86 per cent, while Kebbi and Borno each recorded 9.12 per cent.
Adamawa also recorded the highest year on year food inflation at 51.36 per cent, followed by Katsina at 30.84 per cent and Zamfara at 30.65 per cent. The figures show that while national inflation continued to ease, food costs and sharp differences between states remained major pressure points for households
