Abuja, Aug. 17, 2066 – Nigeria’s headline inflation rate dropped to 15.43% in July from 15.91% in June 2026.
The National Bureau of Statistics (NBS) disclosed this on Monday in the latest edition of its monthly report on Consumer Price Index.
It said the July inflation rate represented 0.48% drop over the 15.91% recorded in June.
“On a month-on-month basis, the headline inflation rate in July 2026 was 1.57 per cent, which was 0.09 per cent lower than the rate recorded in June 2026 (1.66 per cent
“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 bureau said.
The July inflation rate also marked a sharp decline from the 24.94 per cent recorded in July 2025, indicating a 9.51 percentage-point reduction year-on-year.
The NBS said the decline in headline inflation was recorded in spite of an increase in the overall Consumer Price Index, which rose to 145.3 points in July from 143.0 points in June.
It also said the food inflation rate rose to 20.31 per cent in July 2026 on a year-on-year basis.
“On a month-on-month basis, the Food inflation rate in July 2026 was 5.56 per cent, up by 1.82 percentage points from June 2026 (3.75 per cent),” NBS added.
“The food inflation rate in July 2026 was 20.31 per cent on a year-on-year basis and stood at 26.20 per cent in the same month of the preceding year (July 2025)
“On a month-on-month basis, the Food inflation rate in July 2026 was 5.56 per cent, up by 1.82 percentage points from June 2026 (3.75 per cent).
“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, ),” the bureau said.
