Nigeria’s headline inflation rate fell to 15.43 per cent in July 2026, down from 15.91 per cent recorded in June, according to the National Bureau of Statistics (NBS).
The latest figure was contained in the NBS Consumer Price Index report released on Monday, showing a 0.48 percentage-point decline in the headline inflation rate.
The statistics agency said the decline was also reflected in the month-on-month inflation rate, which dropped to 1.57 per cent in July from 1.66 per cent in June.
NBS said the July figure indicated that the average price level increased at a slower rate compared with the previous month.
The bureau said: “showed a decrease of 0.48% compared to the June 2026 headline inflation rate”.
“On a month-on-month basis, the Headline inflation rate in July 2026 was 1.57%, which was 0.09% lower than the rate recorded in June 2026 (1.66%),” the bureau said.
“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.”
Despite the decline in headline inflation, food inflation climbed to 20.31 per cent year-on-year in July 2026.
The NBS said food inflation rose sharply on a month-on-month basis, reaching 5.56 per cent in July from 3.75 per cent in June.
“On a month-on-month basis, the Food inflation rate in July 2026 was 5.56%, up by 1.82% points from June 2026 (3.75%),” NBS added.
The bureau attributed the year-on-year food inflation figure to changes in the prices of several food items, including rice, water yam and plantain.
“The Food inflation rate in July 2026 was 20.31% on year-on-year basis and stood at 26.20% in the same month of the preceding year (July 2025),” the bureau said.
“On a month-on-month basis, the Food inflation rate in July 2026 was 5.56%, up by 1.82% points from June 2026 (3.75%).
“This can be attributed to the rate of change in the average prices of the following products: Crayfish, Pepper (Fresh), Onions (Fresh), Carrots (Fresh), Rice, Water Yam, Tomatoes (Fresh), Garri, Plantain, Beef, Egg, Guinea Corn, Ginger, Plantain Flour, etc.”
At the state level, Adamawa recorded the highest year-on-year food inflation rate at 51.36 per cent, followed by Katsina at 30.84 per cent and Zamfara at 30.65 per cent.
Borno recorded the slowest year-on-year rise in food inflation at -0.31 per cent, followed by Nasarawa at 6.88 per cent and Kebbi at 12.50 per cent.
On a month-on-month basis, Adamawa recorded the highest food inflation at 17.02 per cent, followed by Lagos at 13.48 per cent and Borno at 13.26 per cent.
NBS said Jigawa, Kebbi and Bauchi, however, recorded declines in month-on-month food inflation.
“Adamawa (17.02%), Lagos (13.48%) and Borno (13.26%), Jigawa (-3.68%), Kebbi (-3.67%), and Bauchi (-1.85%) recorded decline”.
The latest figures present a mixed picture for the Nigerian economy, with overall inflation easing in July while food prices continued to rise sharply on a monthly basis.
