Nigeria’s headline inflation rate has dropped to 15.43 per cent in July 2026 from 15.91 per cent recorded in June.
According to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday, the bureau said the July figure represented a 0.48 percentage-point decline from the previous month’s rate.
On a month-on-month basis, headline inflation stood at 1.57 per cent in July, down from 1.66 per cent in June.
NBS said the decline meant that the average price level increased at a slower rate in July compared with the previous month.
Despite the decline in headline inflation, food inflation increased to 20.31 per cent year-on-year in July 2026.
The bureau attributed the increase to changes in the prices of several food items, including rice, water yam and plantain.
On a month-on-month basis, food inflation rose to 5.56 per cent in July from 3.75 per cent in June, representing a 1.82 percentage-point increase.
NBS said the month-on-month movement was driven by changes in the prices of commodities including crayfish, fresh pepper, fresh onions, carrots, rice, water yam, fresh tomatoes, garri, plantain, beef, eggs, guinea corn, ginger and plantain flour.
At the state level, Adamawa recorded the highest month-on-month food inflation rate in July at 17.02 per cent, followed by Lagos at 13.48 per cent and Borno at 13.26 per cent.
Meanwhile, Jigawa recorded the largest decline at -3.68 per cent, followed by Kebbi at -3.67 per cent and Bauchi at -1.85 per cent.
On a year-on-year basis, Adamawa also recorded the highest food inflation rate at 51.36 per cent. Katsina followed with 30.84 per cent, while Zamfara recorded 30.65 per cent.
Borno recorded the slowest year-on-year food inflation movement at -0.31 per cent, while Nasarawa and Kebbi recorded 6.88 per cent and 12.50 per cent respectively.