Nigeria’s headline inflation rate moderated to 15.43 percent in July 2026, down from 15.91 percent in June, according to data from the National Bureau of Statistics. While the annual headline rate continues to ease significantly from the 24.94 percent recorded in July 2025, food prices remain under pressure. Year-on-year food inflation rose to 20.31 percent, driven by increased costs of staples such as rice, tomatoes, and beef, with sharp regional variations in price volatility. Core inflation also trended downward to 14.97 percent annually.