Nigeria’s annual inflation rate eased for the second month to 15.43% in July 2026, the lowest since March, compared to June's 15.91%. The continued relative stability in the naira helped to contain inflationary pressures. Price growth softened for some CPI items, including transportation (15.5% vs 15.6%); miscellaneous goods & services (15.6% vs 17.3%); restaurants & hotels (21.8% vs 23.6%) and clothing & footwear (4% vs 6.4%). However, food inflation, the largest component of the inflation basket, accelerated for the sixth month to 20.31% from 17.52% in June. Higher prices were also seen for housing & utilities (12.6% vs 11.2%). Meanwhile, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, also moderated for the second month to the lowest since May 2022 at 14.97%, down from June's 15.92%. On a monthly basis, the CPI rose by 1.57% in July, after a 1.66% increase in the previous month. source: National Bureau of Statistics, Nigeria

Inflation Rate in Nigeria decreased to 15.43 percent in July from 15.91 percent in June of 2026. Inflation Rate in Nigeria averaged 14.30 percent from 1996 until 2026, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2026.

Inflation Rate in Nigeria decreased to 15.43 percent in July from 15.91 percent in June of 2026. Inflation Rate in Nigeria is expected to be 17.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Inflation Rate is projected to trend around 15.90 percent in 2027 and 14.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-15 02:15 PM
Inflation Rate YoY
Jun 15.91% 15.93% 16.0%
2026-08-17 12:10 PM
Inflation Rate YoY
Jul 15.43% 15.91% 15.7%
2026-09-15 12:00 PM
Inflation Rate YoY
Aug 15.43%


Related Last Previous Unit Reference
Consumer Price Index CPI 145.30 143.00 points Jul 2026
Core Consumer Prices 143.67 143.46 points Jul 2026
Core Inflation Rate 14.97 15.92 percent Jul 2026
CPI Housing Utilities 146.50 146.40 points Jul 2026
CPI Transportation 140.80 140.40 points Jul 2026
Food Inflation YoY 20.31 17.52 percent Jul 2026
GDP Deflator 216.12 191.98 points Mar 2026
Inflation Rate YoY 15.43 15.91 percent Jul 2026
Inflation Rate MoM 1.57 1.66 percent Jul 2026


Nigeria Inflation Rate
In Nigeria, the Consumer Price Index (CPI) measures the change over time in prices of 740 goods and services consumed by people for day-to-day living. The index weights are based on expenditures of both urban and rural households in the 36 states. The most important categories in the CPI are: Food & Non-alcoholic Beverages (52% of the total weight), Housing, Water, Electricity, Gas & Other Fuel (17%), Clothing & Footwear (8%). Transports account for 7% and Furnishings & Household Equipment Maintenance for 5%. Others include: Education (4%); Health (3%); Miscellaneous Goods and Services (2%); Restaurants and Hotels (1%); Alcoholic Beverages, Tobacco & Kola (1%); Recreation & Culture (1%); and Communications (1%).
Actual Previous Highest Lowest Dates Unit Frequency
15.43 15.91 47.56 -2.49 1996 - 2026 percent Monthly
2024=100

News Stream
Nigeria Inflation Rate Slows to 4-Month Low in July
Nigeria’s annual inflation rate eased for the second month to 15.43% in July 2026, the lowest since March, compared to June's 15.91%. The continued relative stability in the naira helped to contain inflationary pressures. Price growth softened for some CPI items, including transportation (15.5% vs 15.6%); miscellaneous goods & services (15.6% vs 17.3%); restaurants & hotels (21.8% vs 23.6%) and clothing & footwear (4% vs 6.4%). However, food inflation, the largest component of the inflation basket, accelerated for the sixth month to 20.31% from 17.52% in June. Higher prices were also seen for housing & utilities (12.6% vs 11.2%). Meanwhile, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, also moderated for the second month to the lowest since May 2022 at 14.97%, down from June's 15.92%. On a monthly basis, the CPI rose by 1.57% in July, after a 1.66% increase in the previous month.
2026-08-17
Nigeria Inflation Rate Almost Steady in June
The annual inflation rate in Nigeria was little changed at 15.91% in June 2026, compared to May's six-month high of 15.93%, helped by the relative stability of the naira, despite strong inflationary pressures linked to the Middle East conflict. Food inflation, the largest component of the inflation basket, quickened for the fifth month to 17.52% from 16.96% in May. Prices also advanced faster for housing & utilities (11.19% vs 9.79%). Meanwhile, prices slowed a bit for some items, including transportation (15.62% vs 17.09% in May); clothing & footwear (6.39% vs 6.79%); miscellaneous goods & services (17.31% vs 17.78%); restaurants & hotels (23.63% vs 24.04%)and alcoholic beverages & tobacco (2.94% vs 3.89%). The core inflation rate, which strips out the volatile prices of agricultural produce and energy, eased to 15.92% from a four-month high of 16.82% in May. On a monthly basis, the CPI rose by 1.66% in June, the least in five months, after a 1.75% advance in May.
2026-07-15
Nigeria Inflation Hits 6-Month High
The annual inflation rate in Nigeria rose for a third straight month to 15.93% in May 2026, marking the highest since last November, from 15.69% in the previous month. Food inflation, the largest component of the inflation basket, accelerated for the fourth month to 17.8% from 16.6% in April, alongside transport costs, up 17.1% from 16%, partly driven by the continued pass-through of the March fuel price shock linked to the Middle East conflict. Prices also continued to increase for health (18.7% vs 18.9%), restaurants and accommodation services (24% vs 27.9%), and personal care, social protection and miscellaneous goods and services (17.8% vs 18.5%). In contrast, inflation notably softened for information and communication (7.4% vs 8.4%). Meanwhile, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, rose to 16.82% from 15.86% in the month before. On a monthly basis, the CPI went up by 1.75% in May, easing from a 2.13% gain in April.
2026-06-15