Nigeria’s inflation rate drops to 15.43%

 The National Bureau of Statistics (NBS) says Nigeria’s
headline inflation rate dropped from 15.91 percent in June to 15.43 percent in
July.

 

This is contained in its consumer price index (CPI) report
released on Monday.

NBS said the July 2026 headline inflation rate “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.”

FOOD INFLATION RATE ROSE TO 20.31%

Also, the report said the food inflation rate in July 2026
was 20.31 percent on a year-on-year basis.

“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 statistics firm said the rise in food inflation on a
year-on-year basis was caused by increases in prices of 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.”

Giving state analysis, NBS said food inflation on a
year-on-year basis was highest in Adamawa (51.36 percent), Katsina (30.84
percent), and Zamfara (30.65 percent), in July 2026.

However, Borno (-0.31 percent), Nasarawa (6.88 percent) and
Kebbi (12.50 percent) recorded the slowest rise in food inflation on a
year-on-year basis.

On a month-on-month basis, NBS said food inflation was
highest in “Adamawa (17.02%), Lagos (13.48%) and Borno (13.26%), Jigawa
(-3.68%), Kebbi (-3.67%), and Bauchi (-1.85%) recorded decline”.

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