Nigeria’s headline inflation rate fell to 15.43% in July 2026 from 15.91% in June, according to newly released data by the National Bureau of Statistics (NBS).
In its Consumer Price Index (CPI) report released on Monday, the bureau said the July headline inflation rate declined by 0.48 percentage points compared with the June 2026 figure.
On a month-on-month basis, headline inflation stood at 1.57% in July, down from 1.66% in June.
The NBS said the decline means that the average price level increased at a slower rate in July than it did in the preceding month.
Despite the moderation in headline inflation, food inflation accelerated during the month.
Food inflation rose to 20.31% year-on-year in July 2026, although it remained below the 26.20% recorded in July 2025.
According to the NBS, the year-on-year increase was driven by changes in the prices of commodities including rice, water yam and plantain.
On a month-on-month basis, food inflation increased significantly to 5.56% in July from 3.75% in June, representing a 1.82 percentage-point increase.
The bureau attributed the monthly rise to changes in the average prices of several food items, including crayfish, fresh pepper, fresh onions, carrots, rice, water yam, fresh tomatoes, garri, plantain, beef, eggs, guinea corn, ginger and plantain flour.
Food inflation also varied significantly across states during the month.
Adamawa recorded the highest month-on-month food inflation rate at 17.02%, followed by Lagos at 13.48% and Borno at 13.26%.
In contrast, Jigawa recorded a 3.68% decline, while Kebbi and Bauchi recorded declines of 3.67% and 1.85%, respectively.
On a year-on-year basis, Adamawa recorded the highest food inflation rate at 51.36% in July 2026.
It was followed by Katsina at 30.84% and Zamfara at 30.65%.
Borno recorded the slowest year-on-year food inflation rate at -0.31%, followed by Nasarawa at 6.88% and Kebbi at 12.50%.
The latest figures present a mixed inflation picture for the Nigerian economy, with overall headline inflation easing while food prices recorded a sharper increase during the month.
The divergence highlights continued pressure on household food costs despite the moderation in the broader inflation rate.
