…as food inflation moderates to 19.57%
Nigeria’s headline inflation rate eased marginally to 15.39 per cent in August 2026 from 15.43 per cent recorded in July, according to the National Bureau of Statistics (NBS).
The NBS disclosed this in its Consumer Price Index (CPI) report for August 2026 released on Tuesday.
The latest figure represents a 0.04 percentage point decline from the July inflation rate and a significant drop from the 23.14 per cent recorded in August 2025.
The bureau also reported a sharper slowdown in month-on-month inflation, which fell to 0.71 per cent in August from 1.57 per cent in July.
According to the NBS, the month-on-month figure means that the average price level continued to rise in August, but at a slower pace than in the previous month.
The Consumer Price Index, which measures changes in the prices of goods and services consumed by households, rose to 146.3 points in August from 145.3 points in July.
Food inflation also moderated during the month, falling to 19.57 per cent year-on-year in August from 25.30 per cent recorded in the corresponding month of 2025.
On a month-on-month basis, food inflation dropped significantly to 1.02 per cent in August from 5.56 per cent in July.
The NBS said the slowdown in food inflation was driven by changes in the prices of items including palm oil, carrots, pepper, onions, cassava flour, beef, yam flour, egusi, fresh fish and potatoes.
Despite the moderation, food and non-alcoholic beverages remained the largest contributor to the annual headline inflation rate, accounting for 6.16 percentage points.
Restaurants and accommodation services contributed 1.99 percentage points, while transport contributed 1.64 percentage points.
Housing, water, electricity, gas and other fuels contributed 1.30 percentage points to the headline inflation rate.
The bureau further reported that urban inflation stood at 15.88 per cent year-on-year in August, while rural inflation was 14.23 per cent.
Urban month-on-month inflation fell sharply to 0.28 per cent in August from 1.90 per cent in July. In contrast, rural month-on-month inflation increased to 1.79 per cent from 0.78 per cent.
The average inflation rate for the 12 months ending August 2026 stood at 16.30 per cent, down from 28.32 per cent recorded in the corresponding period of 2025.
The latest figures indicate a continued moderation in the pace of price increases, although the annual inflation rate remains elevated and food prices continue to account for the largest share of the inflation burden on households.