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Nigeria’s headline inflation rate declined to 15.43% in July 2026, representing a 0.48 percentage-point decrease from the 15.91% recorded in June.
The latest figure was contained in the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), which showed that inflationary pressures varied significantly across the states.
While some states recorded inflation rates above 20%, others saw annual inflation fall into single digits, indicating relatively slower increases in the prices of goods and services.
Nasarawa recorded the lowest headline inflation rate among the states in July at 7.9%, followed by Borno and Kebbi at 9.1% each.
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Ebonyi, Jigawa and Niger also recorded inflation rates of 9.2%, 10.0% and 10.2%, respectively.
The figures suggest that consumers in these states experienced relatively slower increases in the overall cost of goods and services compared with the national average.
10. Oyo — 11.9%
Oyo recorded the highest inflation rate among the 10 most affordable states in July, at 11.9%.
The state’s headline inflation rate declined significantly from 17.2% in June, representing a 5.3 percentage-point reduction.
However, food inflation increased to 16.7% in July from 14.3% in June.
Despite the increase in food inflation, Oyo’s overall inflation rate remained below the national average of 15.43%.
The state’s position reflects a relatively moderate increase in the overall cost of goods and services during the month.
9. Kogi — 11.2%
Kogi recorded an annual inflation rate of 11.2% in July, placing it ninth among the states with the lowest inflation rates.
The figure declined from 15.8% in June.
Food inflation also recorded a substantial moderation, falling to 16.1% from 22.5% in June.
The decline of 6.4 percentage points in food inflation suggests that food-price pressures eased considerably in the state during the month.
Kogi’s overall inflation rate was 4.23 percentage points below the national average.
8. Taraba — 11.2%
Taraba also recorded an annual inflation rate of 11.2% in July, tying with Kogi for the eighth position.
The state’s inflation rate declined from 14.5% in June.
Food inflation stood at 18.3% in July.
The June food inflation figure was not provided in the data used for this ranking.
Despite food inflation remaining higher than the state’s overall inflation rate, Taraba’s headline inflation was 4.23 percentage points below the national average.
The state’s position among the 10 most affordable states indicates a significant moderation in overall price pressures compared with June.
7. Osun — 10.6%
Osun recorded an inflation rate of 10.6% in July, ranking seventh among the states with the lowest headline inflation.
The figure was down from 16.2% in June, representing a 5.6 percentage-point decline.
Food inflation also moderated significantly, falling from 17.4% in June to 12.9% in July.
The reduction in both headline and food inflation indicates that price pressures eased across a broad section of the consumer basket.
Osun’s July headline inflation was 4.83 percentage points below the national rate.
6. Niger — 10.2%
Niger State recorded an annual inflation rate of 10.2% in July, placing it sixth on the list.
The figure represents a sharp decline from 21.6% in June, equivalent to an 11.4 percentage-point reduction.
Food inflation also declined from 23.1% in June to 17.0% in July.
Although food inflation remained higher than the state’s overall inflation rate, the significant reduction in headline inflation suggests that broader price pressures moderated substantially during the month.
Niger’s headline inflation was 5.23 percentage points below the national average.
5. Jigawa — 10.0%
Jigawa recorded an annual inflation rate of 10.0% in July, ranking fifth among the most affordable states.
The state’s headline inflation declined sharply from 18.4% in June, representing an 8.4 percentage-point reduction.
Food inflation also fell significantly, dropping from 26.7% in June to 14.3% in July.
The 12.4 percentage-point decline in food inflation was one of the largest reductions among the states in the ranking.
Jigawa’s July headline inflation was 5.43 percentage points below Nigeria’s national rate.
4. Ebonyi — 9.2%
Ebonyi recorded an annual inflation rate of 9.2% in July, placing it fourth among the states with the lowest inflation.
The rate declined from 11.8% in June.
Food inflation, however, increased slightly from 12.3% in June to 12.8% in July.
Despite the modest increase in food inflation, Ebonyi’s overall inflation rate remained well below the national average.
The state’s headline inflation was 6.23 percentage points lower than the national rate.
3. Borno — 9.1%
Borno recorded an annual inflation rate of 9.1% in July, making it the state with the third-lowest inflation rate.
The figure increased slightly from 8.7% in June.
However, food inflation remained negative at -0.3% in July, compared with -2.4% in June.
The negative food inflation rate indicates that, on an annual basis, food prices in the state were lower in July than they were a year earlier based on the NBS measure.
Borno’s headline inflation was 6.33 percentage points below the national average.
The combination of single-digit headline inflation and negative food inflation makes Borno one of the states with the lowest measured price pressures in July.
2. Kebbi — 9.1%
Kebbi also recorded an annual inflation rate of 9.1% in July, tying with Borno.
The state’s inflation rate declined sharply from 18.1% in June, representing a 9 percentage-point reduction.
Food inflation also fell substantially from 24.2% in June to 12.5% in July.
The sharp decline in both headline and food inflation placed Kebbi among the states with the most significant improvement in price pressures during the month.
Its headline inflation was 6.33 percentage points below the national average.
1. Nasarawa — 7.9%
Nasarawa recorded the lowest headline inflation rate among Nigerian states in July 2026 at 7.9%.
The figure declined from 13.4% in June, representing a 5.5 percentage-point reduction. Food inflation also fell sharply to 6.9% in July from 12.7% in June.
Nasarawa was therefore the only state in the top 10 where both headline and food inflation were below 7%. Its headline inflation was 7.53 percentage points below Nigeria’s national rate of 15.43%.
The state’s relatively low food inflation also suggests that households faced considerably slower increases in food prices compared with many other parts of the country.
Affordable does not mean prices are falling
The ranking reflects the rate at which prices are changing, rather than the absolute cost of living in each state.
A state with inflation of 7.9% is not necessarily cheaper in absolute terms than a state with inflation of 11.9%.
Instead, the lower inflation rate means prices in Nasarawa were increasing at a slower pace during the period measured by the NBS.
This distinction is important when interpreting the term “most affordable.”
The ranking identifies states with the lowest annual inflation rates in July, meaning they experienced the slowest overall increase in consumer prices among the states listed.
