JUST IN: Nigeria’s headline inflation drops to 15.43%

National Bureau of Statistics (NBS) has disclosed that Nigeria’s headline inflation dropped from 15.91 percent in June to 15.43 percent in July 2026.

According to a statement signed by the Statistician General of NBS, Prince Adeyemi Adeniran, the Bureau revealed that “on a year-on-year basis, the headline inflation rate for July 2026 stood at 15.43%, when compared to 15.91% and 24.94% recorded in June 2026 and July 2025, respectively.

“The month-on-month headline inflation rate in July 2026 was 1.57%, which was 0.09% lower than the rate recorded in June 2026 (1.66%).”

ALSO READ: FCMB raises instant loan limit to N500,000

In the statement, NBS said “at the divisional level, the three major contributors to the headline inflation were Food and non-alcoholic Beverages: 6.18%, Restaurants & Accommodation Services: 1.99%, and Transport: 1.64%; while the least contributors were Recreation, Sport, and Culture: 0.05%, Alcoholic Beverages, Tobacco, and Narcotics: 0.06%, an Insurance and Financial Services: 0.07%.

“The Food inflation rate in July 2026 was 20.31% on a year-on-year basis, lower than 26.20% recorded in July 2025. Also, on a month-on-month basis, the Food Inflation rate in July 2026 was 5.56%, up by 1.82 percentage points from June 2026 (3.75%).

“This can be attributed to the rate of change in the average prices of Crayfish, Pepper (Fresh), Onions (Fresh), Carrots (Fresh), Rice, Water Yam, Tomatoes (Fresh), Garri, Plantain, Beef, Egg, Guinea Corn, Ginger, Plantain Flour, among others”.

NBS stated that core Inflation, which excludes the prices of volatile agricultural produce and energy, stood at 14.97% in July 2026 on a year-on-year basis. “On a month-on-month basis, the core inflation rate was 0.15% in July 2026, down by 1.51% compared to June 2026 (1.66%).

“The…