Inflation Drops to 15.43%
James Emejo in Abuja The Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, moderated further to 15.43 per cent in July compared
The Consumer Price Index (CPI) data released by the National Bureau of Statistics (NBS) on Monday indicates a notable decline in inflation, dropping to 15.43 percent in July compared to 15.91 percent in June. This represents a reduction of 0.48 percentage points in headline inflation, showing a sustained easing in the general rate of price increases.
The month-on-month inflation also showed a slowdown, dropping to 1.57 percent from 1.66 percent in June, suggesting that while prices continued to rise, the pace was becoming more moderate. The CPI index increased to 145.3 points in July from 143.0 points in June, marking a 2.2-point rise in the general price level. Over the past year, up to July 2026, the average annual headline inflation was recorded at 16.89 percent, a significant drop from 29.10 percent in the same period last year.
Despite this overall reduction, food prices continued to exert pressure, with inflation in this category rising to 5.56 percent in July from 3.75 percent in June.
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