Juliet Oladele, Reporting
ABUJA — 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 latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday.
The bureau noted that the July figure “showed a decrease of 0.48 per cent compared to the June 2026 headline inflation rate”.
On a month-on-month basis, the headline inflation rate stood at 1.57 per cent in July, representing a 0.09 per cent decline from the 1.66 per cent recorded in June.
“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 NBS stated.
Food Inflation Continues Upward Trajectory
Despite the overall decline, food inflation rose to 20.31 per cent in July on a year-on-year basis, driven largely by increases in the prices of rice, water yam, and plantain.
On a month-on-month basis, food inflation surged to 5.56 per cent in July, up by 1.82 percentage points from 3.75 per cent recorded in June.
The bureau attributed the uptick to “the rate of change in the average prices of the following products: crayfish, fresh pepper, fresh onions, fresh carrots, rice, water yam, fresh tomatoes, garri, plantain, beef, egg, guinea corn, ginger, plantain flour, among others”.
Regional Disparities
On a month-on-month basis, food inflation was highest in Adamawa (17.02 per cent), Lagos (13.48 per cent), and Borno (13.26 per cent). Conversely, Jigawa (-3.68 per cent), Kebbi (-3.67 per cent), and Bauchi (-1.85 per cent) recorded declines.
On a year-on-year basis, food inflation was highest in Adamawa (51.36 per cent), Katsina (30.84 per cent), and Zamfara (30.65 per cent). Borno (-0.31 per cent), Nasarawa (6.88 per cent), and Kebbi (12.50 per cent) recorded the slowest rise in food prices.
The mixed data reflects ongoing challenges in the nation’s economy, as moderating headline inflation offers some relief while persistent food price pressures continue to strain household budgets across the country.
