Nigeria’s headline inflation drops to 15.43% in July while food prices surge
Nigeria’s headline inflation fell to 15.43 percent year-on-year in July 2026, down from 15.91 percent in June and well below the 24.94 percent recorded in July 2025, the National Bureau of Statistics said. On a month‑on‑month basis, headline inflation eased to 1.57 percent from 1.66 percent in June.
However, food inflation accelerated, rising to 20.31 percent year‑on‑year in July from 17.52 percent in June, though still below the 26.20 percent seen in July 2025. Month‑on‑month food prices jumped sharply to 5.56 percent from 3.75 percent. Core inflation, which strips out farm produce and energy, moderated to 14.97 percent year‑on‑year from 15.92 percent in June, and fell to 0.15 percent month‑on‑month.
Urban inflation stood at 16.12 percent year‑on‑year, higher than the 13.77 percent in rural areas. The divergence means overall price pressures are easing, but Nigerians whose spending is heavily weighted toward food continue to face sharp cost increases, squeezing household budgets.
Will you adjust your monthly budget to accommodate rising food costs despite the broader inflation trend easing?