Nigeria’s inflation falls to 15.43% in July as food prices rise
Nigeria's headline inflation rate decreased to 15.43% in July, though food inflation accelerated significantly to 20.31%. This divergence highlights ongoing economic pressure on household budgets despite the moderation in overall price levels.
Why it matters
The disparity between headline and food inflation is a critical indicator of economic hardship for the average citizen in Nigeria.
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate fell to 15.43 per cent in July, extending the recent moderation in overall price pressures, even as food inflation accelerated during the month.
The headline rate, measured on a year-on-year basis, declined from 15.91 per cent recorded in June and was significantly lower than the 24.94 per cent recorded in July 2025.
The statistics agency disclosed the figures in its latest Consumer Price Index (CPI) data released on Monday.
On a month-on-month basis, headline inflation also moderated to 1.57 per cent in July from 1.66 per cent in June, indicating that the average price level increased at a slower pace.
The July figure marks another decline from the 15.93 per cent recorded in May, when headline inflation reached its highest level in the recent three-month period before easing to 15.91 per cent in June.
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