Nigeria: Why food prices, cost of living keep rising despite inflation drop – Economists

Economists and fiscal analysts person explained wherefore nutrient prices and the outgo of surviving proceed to emergence contempt Nigeria signaling a 2nd consecutive diminution successful header ostentation successful July 2026.

DAILY POST reports that Nigeria’s header ostentation declined for the 2nd consecutive period to 15.43 percent successful July from 15.91 percent successful June, according to the Consumer Price Index, CPI, and ostentation study released by the National Bureau of Statistics, NBS, on Monday.

NBS information showed that the month-on-month header ostentation complaint successful July 2026 stood astatine 1.57 percent, representing a 0.09 percentage-point diminution from the 1.66 percent recorded successful June.

On a year-on-year basis, Adamawa State recorded the highest all-items ostentation complaint astatine 33.03 percent, portion Nasarawa State recorded the lowest astatine 7.86 percent.

Nigeria’s nutrient ostentation rises for sixth consecutive month

Meanwhile, nutrient ostentation roseate sharply for the sixth consecutive period to 20.31 percent from 17.52 percent.

This indicates that nutrient prices person surged importantly implicit the past six months.

The NBS attributed the emergence successful nutrient ostentation to increases successful the mean prices of crayfish, caller pepper, caller onions, caller carrots, rice, h2o yam, caller tomatoes, garri, plantain, b...