The National Bureau of Statistics, NBS, has reported a further decline in Nigeria’s inflation rate, dropping from 15.91 per cent in June to 15.43 per cent in July 2026.
The figure was contained in the NBS Consumer Price Index and Inflation Report released on Monday.
The NBS also reported that food inflation stood at 5.56 per cent on a month-on-month basis in July, while headline inflation rose by 1.57 per cent month-on-month.
Meanwhile, the Central Bank of Nigeria, CBN, recently retained the Monetary Policy Rate, MPR, at 26.5 per cent.
The decision was announced by CBN Governor, Olayemi Cardoso, following the 305th Monetary Policy Committee meeting in Abuja.
The committee also retained the cash reserve ratio at 45 per cent for deposit money banks and 16 per cent for merchant banks, while keeping the liquidity ratio at 30 per cent.
The CBN said the decision followed an assessment of domestic economic conditions and emerging global risks.
