INFLATION EASES TO 15.43% DESPITE RISING FOOD PRICES

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

The July figure represents a 0.48 percentage-point decline in headline inflation, indicating that the overall pace of increase in consumer prices slowed during the month.

However, the decline in headline inflation was accompanied by renewed pressure on food prices. Food inflation rose sharply on a month-on-month basis to 5.56 per cent in July, compared with 3.75 per cent in June.

The NBS attributed the increase to higher average prices of commodities including crayfish, fresh pepper, onions, carrots, rice, tomatoes, garri, plantain, beef, eggs, ginger and plantain flour.

On a year-on-year basis, food inflation stood at 20.31 per cent, lower than the 26.20 per cent recorded in July 2025.

Core inflation, which excludes volatile agricultural products and energy, also moderated to 14.97 per cent year-on-year in July.

Meanwhile, the Consumer Price Index increased to 145.3 points in July from 143.0 points in June, while monthly headline inflation slowed to 1.57 per cent from 1.66 per cent.

The figures suggest that while the broader pace of price increases is moderating, food costs remain a major pressure point for Nigerian households.

Adamawa recorded the highest annual food inflation at 51.36 per cent, followed by Katsina at 30.84 per cent and Zamfara at 30.65 per cent.

The latest data highlights the continuing challenge of reducing food prices even as overall inflation shows signs of easing.