BREAKING: Inflation Rate Drops To 15.43% — NBS
In its consumer price index (CPI) report released on Monday, NBS noted that the July 2026 headline inflation rate “showed a decrease of 0.48% compared to the June 2026 headline inflation rate”.
“On a month-on-month basis, the Headline inflation rate in July 2026 was 1.57%, which was 0.09% lower than the rate recorded in June 2026 (1.66%),” the bureau said.
“This means that in July 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in June 2026.”
Meanwhile, NBS noted that food inflation rate rose to 20.31 per cent in July 2026 on a year-on-year basis.
The rise in food inflation on a year-on-year basis was caused by increases in prices of rice, water yam, and plantain.
“On a month-on-month basis, the Food inflation rate in July 2026 was 5.56%, up by 1.82% points from June 2026 (3.75%),” NBS added.
“The Food inflation rate in July 2026 was 20.31% on year-on-year basis and stood at 26.20% in the
same month of the preceding year (July 2025),” the bureau said.
“On a month-on-month basis, the Food inflation rate in July 2026 was 5.56%, up by 1.82% points from June 2026 (3.75%).
Food inflation on a year-on-year basis was highest in Adamawa (51.36 percent), Katsina (30.84 percent), and Zamfara (30.65 percent), in July 2026.
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.
