{
  "id": 1620543,
  "title": "Inflation Moderates to 15.43% Despite Surge in Food Prices",
  "url": "https://urgent.news/2026/08/18/inflation-moderates-to-15-43-despite-surge-in-food-prices",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T02:43:57.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/08/18/inflation-moderates-to-15-43-despite-surge-in-food-prices/"
  },
  "original_language": "en",
  "account": "The Consumer Price Index (CPI) indicated a moderation in inflation to 15.43% in July 2026, marking a 0.48% drop from 15.91% in June, according to the National Bureau of Statistics (NBS). This trend continued from the previous month, suggesting a sustained reduction in the speed of price hikes. In terms of month-on-month headline inflation, it slowed to 1.57% from 1.66% in June, signifying a more gradual increase in average prices. The CPI index rose to 145.3 points in July, up from 143.0 points in June, signifying a 2.2-point increase in the overall price level.\n\nAverage annual headline inflation for the period ending July 2026 was 16.89%, a significant decrease from 29.10% in the same period of 2025. However, food inflation continued to pose a significant challenge, with month-on-month increases to 5.56% from 3.75% in June. Year-on-year, food inflation stood at 20.31% in July 2026, slightly lower than the 26.20% recorded in July 2025.\n\nFactors contributing to the rise in food prices included increases in the average prices of various items such as crayfish, fresh pepper, onions, carrots, rice, water yam, tomatoes, garri, plantains, beef, eggs, guinea corn, ginger, and plantain flour. The average annual food inflation rate for the 12 months ending July 2026 was 16.06%, compared to 30.85% in July 2025.\n\nCore inflation, which excludes volatile agricultural produce and energy prices, was recorded at 14.97% year-on-year in July 2026, down from 23.95% in the same period the previous year. Month-on-month, core inflation moderated to 0.15% from 1.66% in June, indicating weaker underlying price pressures outside of food and energy components. The average 12-month core inflation rate stood at 18.09%, which was lower than the 26.56% recorded in July 2025.\n\nUrban inflation was noted at 16.12% year-on-year in July, with a month-on-month decline to 1.90% from 2.13% in June. The average annual urban inflation rate for the 12 months ending July 2026 was 16.81%, compared to 30.74% a year earlier. Rural inflation stood at 13.77% year-on-year in July, with a month-on-month increase to 0.78% from 0.52% in June. The average annual rural inflation rate for the 12 months ending July 2026 was 16.72%, lower than the 27.05% reported in July 2025.\n\nAt the state level, Adamawa experienced the highest headline inflation at 33.03%, followed by Yobe at 25.21% and Anambra at 23.99%. Nasarawa recorded the lowest headline inflation rate at 7.86%, with Kebbi and Borno at 9.12% each. Month-on-month, Adamawa saw the highest increase in headline inflation at 12.48%, followed by Anambra at 9.95% and Delta at 9.54%. Niger, on the other hand, recorded the sharpest decline in headline inflation at -5.86%, with Enugu at -5.71% and Kebbi at -4.89%.\n\nIn terms of food inflation on a year-on-year basis, Adamawa had the highest at 51.36%, followed by Katsina at 30.84% and Zamfara at 30.65%. Borno recorded the slowest increase at -0.31%, with Nasarawa at 6.88% and Kebbi at 12.50%. Month-on-month, Adamawa experienced the highest rise in food inflation at 17.02%, followed by Lagos at 13.48% and Borno at 13.26%. However, Jigawa saw the sharpest decline in food prices at -3.68%, with Kebbi at -3.67% and Bauchi at -1.85%.",
  "summary": "• Severe in Adamawa, Yobe, Anambra, others James Emejo and Deborah Adekoya in Abuja The Consumer Price Index (CPI), which measures the rate of change in prices of goods and",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}