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The July rate was also significantly lower than the 24.94 per cent recorded in July 2025, indicating a substantial moderation in the annual pace of increase in consumer prices over the past year.
By Paul Dada
Nigeria’s headline inflation rate declined to 15.43 per cent in July 2026, continuing the downward trend recorded in recent months.
This was disclosed by the National Bureau of Statistics (NBS) in its Consumer Price Index report for July released on Monday.
The report said the latest figure represents a 0.48 percentage point decline from the 15.91 per cent recorded in June.
The July rate was also significantly lower than the 24.94 per cent recorded in July 2025, indicating a substantial moderation in the annual pace of increase in consumer prices over the past year.
On a month-on-month basis, however, the inflation rate stood at 1.57 per cent in July, compared with 1.66 per cent in June.
This means that prices continued to rise during the month, although the pace of increase was slightly slower than in the preceding month.
The latest figures come against the backdrop of efforts by the Federal Government and monetary authorities to stabilise the economy and moderate inflationary pressures.
The NBS report also showed that food prices remained a major source of pressure on households, with food inflation rising by 5.56 per cent month-on-month in July.
Despite the moderation in the headline rate, the increase in monthly food prices suggests that many households may continue to face pressure on their disposable incomes and purchasing power.
The decline in annual inflation is, however, expected to provide some relief to businesses, consumers and policymakers as the economy continues to adjust to ongoing economic reforms.
