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.
The latest figure, contained in the NBS Consumer Price Index report released on Monday, represents a 0.48 percentage-point decline in the headline inflation rate.
This development could signal a turn in the tide of the country’s economy as pressure continue to mount on its leadership to improve the state of things.
The statistics agency had also reported a moderation in monthly inflation, which stood at 1.57 per cent in July, compared with 1.66 per cent in June.
According to the NBS, the decline means that the average level of prices increased at a slower pace in July than in the previous month.
However, the moderation in headline inflation came alongside a sharp rise in food inflation, which climbed to 20.31 per cent year-on-year in July 2026.
On a month-on-month basis, food inflation rose to 5.56 per cent in July, up from 3.75 per cent in June, representing a 1.82 percentage-point increase.
The NBS attributed the rise to changes in the prices of several food items, including crayfish, fresh pepper, onions, carrots, rice, water yam, tomatoes, garri, plantain, beef, eggs, guinea corn, ginger and plantain flour.
The bureau said the year-on-year increase in food inflation was particularly influenced by higher prices of rice, water yam and plantain.
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 lowest year-on-year food inflation rate at -0.31 per cent, while Nasarawa and Kebbi followed with 6.88 per cent and 12.50 per cent respectively.
On a month-on-month basis, Adamawa also 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.
In contrast, food prices declined month-on-month in Jigawa, Kebbi and Bauchi, which recorded rates of -3.68 per cent, -3.67 per cent and -1.85 per cent respectively.
