Nigeria’s Inflation Rate Drops to 15.43% as Price Pressures Ease Up

Nigerians are getting a much-needed breather as the country’s headline inflation rate continued its downward trend, dropping to 15.43% in July.

According to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), the new figure represents a 0.48 percentage point reduction from the 15.91% recorded in June. The latest numbers highlight a massive cooldown compared to the same period last year, when annual inflation surged to 24.94% in July 2025.

On a month-on-month basis, consumer prices rose by 1.57% in July, showing a slight deceleration from the 1.66% bump registered in June. While this indicates that the cost of daily items, transport, and services is still going up, the speed at which prices are climbing has slowed down noticeably.

Economic analysts point to improved stability across supply networks and ongoing monetary interventions as key drivers behind the cooling trend. The steady drop offers a positive signal for households and local market traders across the country as overall living costs gradually moderate.