Nigeria's inflation rate drops to 15.43% in July despite monthly CPI rise

Nigeria's headline inflation rate fell to 15.43% in July 2026, down 0.48 percentage points from June's 15.91%. This decline comes despite the Consumer Price Index (CPI) actually increasing to 145.3 points in July from 143.0 points in June—a 2.2-point monthly rise. The key is timing: inflation rate measures year-over-year change, so July's 15.43% reflects prices compared to July 2025's much higher 24.94% level.

For Nigerians, this means while inflation has cooled significantly from last year's peak, monthly prices are still rising—just at a slower pace than before. The CPI increase shows everyday goods and services continued to cost more in July than June, though the annual comparison looks better due to last year's extreme highs. This suggests monetary policy may be starting to ease pressure, but households still face elevated costs for essentials like food and transport.

With prices still climbing month-to-month though at a moderating pace compared to last year, will you adjust your budget for continued but slower-rising inflation, or maintain current spending patterns expecting further relief?

SOURCE: https://nairametrics.com/2026/08/17/nigerias-headline-inflation-falls-to-15-43-in-july-2026/