Inflationary Pressures Ease In July As Firms Report Slowest Input Cost Rise

Inflationary pressures in Nigeria’s private sector eased in July 2026, with companies reporting the slowest rise in input costs in five months, according to the Stanbic IBTC Purchasing Managers’ Index (PMI).
The headline PMI stood at 52.5 in July, down from 53.4 in June but still above the 50.0 mark that signals expansion. It marked a sixth consecutive month of improvement in business conditions, albeit at the weakest pace in three months.
The report showed that both input and output prices increased at weaker rates compared to June.
“Purchase cost inflation slowed sharply, hitting a five-month low. Firms still cited higher costs for fuel and raw materials as key drivers, but the ov...