Nigeria’s Food Inflation Surges to 5.56% in July as Rice, Garri, Pepper Prices Rise

Nigeria’s food inflation rose to 5.56% month-on-month in July 2026 from 3.75% in June, according to National Bureau of Statistics data. Higher prices for rice, garri and pepper increased household cost pressures, creating a relevant macro backdrop for consumer goods and agriculture equities on the NGX.