Nigeria’s headline inflation rate eased to 14.63% in September 2026 from 15.39% in August, extending the ongoing disinflationary trend and pointing to a slower increase in overall consumer prices.
According to data released by the National Bureau of Statistics (NBS), the Consumer Price Index rose marginally to 146.38 points from 146.30 points, while on a month-on-month basis, headline inflation slowed sharply to 0.06% from 0.71% in August.
Annual price growth also decelerated significantly compared to the 20.98% rate recorded in September 2025.
The primary driver behind the headline moderation was a notable contraction in food prices.
Annual food inflation declined to 19.59%, while month-on-month food inflation dropped to -1.55% from 1.02% in August.
This negative monthly growth was fueled by lower average prices for essential commodities, including locally produced short-grain rice, loose maize, guinea corn flour, eggs, fresh onions, palm oil, Irish potatoes, and tomatoes, providing a welcome cushion for households grappling with high living costs.
Meanwhile, core inflation, which strips out volatile farm produce and energy prices, fell year-on-year to 12.95%, though monthly core inflation ticked up slightly to 1.11%.
