Nigeria’s headline inflation is expected to maintain its downward trend in the coming months, as easing core inflation and reduced exchange rate volatility continue to offset persistent pressure from food prices, analysts at Comercio Partners have said.
The outlook followed the latest inflation data released by the National Bureau of Statistics, which showed that headline inflation slowed to 15.43 per cent year-on-year in July 2026, from 15.91 per cent in June.
The decline marked the second consecutive monthly moderation and the sharpest slowdown in headline inflation recorded so far this year.
According to the analysts, the July figures point to a growing concentration of inflationary pressure in volatile food-related categories rather than a broad-based acceleration in prices across the economy.
They noted that core inflation, which excludes some volatile components, fell sharply to 14.97 per cent in July from 15.92 per cent in June. On a month-on-month basis, core inflation dropped to 0.15 per cent from 1.66 per cent.
