Nigeria Inflation Falls to 15.43% in July 2026

Nigeria's headline inflation rate fell to 15.43 percent in July 2026, according to data released by the National Bureau of Statistics on Monday. The figure represents a decline from the 15.91 percent recorded in June, marking a continued deceleration in the country's inflationary trend.

The NBS report, published on August 17, 2026, showed that on a month-on-month basis, the headline inflation rate stood at 1.57 percent in July, which was 0.09 percentage points lower than the 1.66 percent recorded in June. This indicates that the pace of price increases slowed compared to the previous month. On a year-on-year basis, the July 2026 rate was significantly lower than the 24.94 percent recorded in July 2025.

Food inflation, a critical component of the consumer price index, rose 5.56 percent on a month-on-month basis in July, an increase from the 3.75 percent recorded in June. The NBS attributed the rise in food inflation to price changes for items such as crayfish, fresh pepper, onions, rice, water yam, tomatoes, garri, plantain, beef, and eggs. On a year-on-year basis, food inflation stood at 20.31 percent in July, down from 26.20 percent in July 2025.