Inflation eases to 15.43% in July as food prices surge month-on-month — NBS
National Bureau of Statistics NBS
Abdullateef Fowewe
Nigeria’s headline inflation has slowed to 15.43% year-on-year in July 2026, down from 15.91% in June and lower than the 24.94% recorded in July 2025.
This was revealed in the latest Consumer Price Index (CPI) report shared on Monday by the National Bureau of Statistics (NBS).
“In July 2026, the Headline inflation rate stood at 15.43%,” the NBS stated, adding that “on a month-on-month basis, the Headline inflation rate in July 2026 was 1.57%.”
Food prices remained a major pressure point. While annual food inflation eased year-on-year, month-on-month food inflation accelerated to 5.56% in July from 3.75% in June.
“The Food inflation rate in July 2026 was 5.56% on a month-on-month basis,” the statistics office noted in its release.
The core inflation index, which excludes volatile farm produce and energy, eased to 0.15% month-on-month and 14.97% year-on-year, suggesting some moderation in underlying price pressures.
Inflation was higher in urban areas at 16.12% year-on-year compared with 13.77% in rural areas, according to the NBS trend data.
