On the back of price and financial system stability, the inflation rate continues to decline on a month-on-month basis.
The latest consumer price index (CPI) report released by the National Bureau of Statistics (NBS) showed Nigeria’s headline inflation has declined from 15.91 per cent in June 2026 to 15.43 per cent in July 2026.
The Central Bank of Nigeria MPC meeting held in July projected “inflation to moderate further in the medium term on the back of continued stability in the foreign exchange market, lagged effect of previous monetary policy tightening and improved food supply conditions as the harvest season approaches.”
The CBN Governor Dr. Olayemi Cardoso also reaffirmed the apex bank’s commitment to preserve price and financial system stability and remains prepared to take appropriate policy measures, guided by evolving macroeconomic conditions.
Data from the CBN showed that the 12-month average inflation rate sustained its decline to 17.63 per cent in June 2026 from 18.36 per cent in May 2026, marking the sixth month of consecutive moderation and reflecting a slower pace of price increases over the medium term. On a month-on-month basis, headline inflation declined to 1.66 per cent in June 2026 from 1.75 per cent in May 2026, driven by a slowdown in core inflation.
