Nigeria: Nigeria's Inflation Falls to 15.43 Percent in July As Food Prices Rise

What the report says

Nigeria’s National Bureau of Statistics said headline inflation eased to 15.43% in July 2026, down from 15.91% in June, according to Consumer Price Index data released on Monday and reported by Premium Times through AllAfrica. The annual figure was also far below the 24.94% recorded in July 2025, indicating that overall price growth continued to cool over the past year. Month on month, headline inflation slowed to 1.57% from 1.66% in June.

The report said food prices moved in the opposite direction. Food inflation climbed to 20.31% year on year in July from 17.52% in June, while monthly food inflation accelerated to 5.56% from 3.75%. That increase suggests households continued to face sharper pressure on basic purchases even as the broader inflation rate improved. Core inflation, which excludes farm produce and energy, also eased, falling to 14.97% year on year and 0.15% month on month.

The data also showed different trends in urban and rural areas. Urban inflation was 16.12% year on year in July, while rural inflation was 13.77%. The article said the figures reflect a continued moderation in Nigeria’s inflation trend after earlier highs in late 2025, but they also underline that food costs remain a major concern for consumers. In general terms, such divergences matter because food accounts for a large share of household spending in Nigeria, making relief in headline inflation less visible for many families.