Nigeria Inflation Falls To 15.43% In July As Food Prices Rise

Nigeria’s headline inflation rate fell to 15.43 per cent in July 2026, down from 15.91 per cent in June, according to the latest Consumer Price Index report from the National Bureau of Statistics.

The July figure was 9.51 percentage points lower than the 24.94 per cent recorded in July 2025. The NBS report still showed that the overall index rose to 145.3 points in July from 143.0 points in June, meaning prices continued to rise, but at a slower headline rate.

On a month-on-month basis, headline inflation stood at 1.57 per cent in July, compared with 1.66 per cent in June. Food inflation rose to 20.31 per cent year-on-year, with the bureau pointing to higher prices of items including rice, water yam and plantain.

The food index also rose faster month-on-month, climbing to 5.56 per cent in July from 3.75 per cent in June. Channels TV reported the same NBS figures, while Vanguard said the headline rate had fallen for a second consecutive month.

The fresh numbers leave households with a mixed picture: headline inflation eased again, but food costs continued to put pressure on daily spending.

Sources: Punch, Vanguard, Channels TV