Nigeria’s headline Inflation rate fell for the second consecutive month by 0.48 percentage point to 15.43 percent in July from 15.91 percent in June, the National Bureau of Statistics (NBS) reported on Monday.
The statistics agency, in its ‘Consumer Price Index (July 2026) Report, indicated that the the rate of increase in the average price level in the month was lower than the rate of increase in the average price level in the preceding month.
It clarified: “In July 2026, the headline inflation rate stood at 15.43 percent, down from 15.91 percent in June 2026 and stood at 24.94 percent in the same month of the preceding year (July 2025).
“Looking at the movement, the July 2026 headline inflation rate showed a decrease of 0.48 percent compared to the June 2026 Headline inflation rate.
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“On a month-on-month basis, the Headline inflation rate in July 2026 was 1.57 percent, which was 0.09 percent lower than the rate recorded in June 2026 (1.66 percent)”, the Bureau added.
But then, it reported that despite the drop in the headline inflation rate, the nation’s food inflation rate rose by 2.79 percentage points to 20.31 percent in July from 17.52 percent in the previous month.
It attributed the rise in the food items to change in the average prices crayfish, pepper (fresh), onions (fresh), carrots
(fresh), rice, water yam, tomatoes (fresh), garri, plantain, beef, egg, guinea corn, ginger, plantain flour, etc.
The Bureau reported: “This can be attributed to the rate of change in the average prices of the following products: Crayfish, Pepper (Fresh), Onions (Fresh), Carrots (Fresh), Rice, Water Yam, Tomatoes (Fresh), Garri, Plantain, Beef, Egg, Guinea Corn, Ginger, Plantain Flour, etc.”
An analysis of the food prices on a state by-state basis, showed that In July, food inflation Year-on-Year (Y-o-Y) was highest in Adamawa (51.36 percent), Katsina (30.84 percent), and Zamfara (30.65 percent), while Borno (-0.31 percent), Nasarawa (6.88 percent) and Kebbi (12.50 percent) recorded the slowest rise in food inflation on a Year-on-Year basis.
However, the statistics agency reported that on a Month-on-Month (M-o-M) basis, food inflation in the month under review was highest in Adamawa (17.02 percent), Lagos (13.48 percent) and Borno (13.26 percent), while Jigawa (-3.68 percent), Kebbi (-3.67%), and Bauchi (-1.85 percent) recorded the slowest rise in food inflation on a M-o-M basis.
