Nigeria’s headline inflation rate declined to 14.63 per cent in September 2026 from 15.39 per cent in August, according to the latest Consumer Price Index report released by the National Bureau of Statistics.
The latest figure represents a decrease of 0.76 percentage points from the preceding month and a sharper decline from the 20.98 per cent recorded in September 2025.
The NBS disclosed the figures in its consumer price report published on Thursday, indicating a slowdown in the rate of increase in the average prices of goods and services.
On a month-on-month basis, headline inflation dropped to 0.06 per cent in September from 0.71 per cent in August, reflecting a slower pace of price increases during the period.
The bureau explained that the September figure meant the average price level rose at a slower rate than it did in the preceding month.
Food inflation also moderated, declining to 19.59 per cent year-on-year in September 2026, compared with 20.16 per cent recorded in the corresponding month of 2025.
Despite the decline in both headline and food inflation, the latest figures indicate that food prices continued to rise on a year-on-year basis, although at a slower rate than in the corresponding period last year.
The September data provide an updated picture of price movements in the Nigerian economy, with the month-on-month headline inflation figure showing a substantially slower pace of increase compared with August.
However, the decline in the inflation rate does not necessarily mean that prices have fallen. Rather, it indicates that the pace at which the general price level is increasing has slowed.
