Nigeria’s headline inflation rate fell to 14.63% in September 2026 from 15.39% in August, marking the third consecutive month of decline, according to the National Bureau of Statistics (NBS).
The bureau disclosed this on Thursday in its Consumer Price Index report for September, indicating a further slowdown in the rate of increase in consumer prices.
According to the NBS, headline inflation declined by 0.76 percentage points from August’s figure.
The rate also fell from 20.98% recorded in September 2025, representing a year-on-year decrease of 6.35 percentage points.
The report showed that month-on-month headline inflation eased to 0.06% in September from 0.71% in August, suggesting that average prices increased at a slower pace during the month.
The NBS explained that the change reflected a slower rise in the average price level compared with the previous month.
The bureau stated: “In September 2026, the headline inflation rate stood at 14.63%, down from 15.39 per cent in August 2026, and stood at 20.98 per cent in the same month of the preceding year (September 2025).”
However, the figures provided for food inflation contain an inconsistency.
The report states that food inflation was 19.59% in September, compared with 19.57% in August.
If these figures are correct, food inflation increased by 0.02 percentage points rather than declining as stated in the report.
The NBS data suggest that while headline inflation continued to ease, food prices remained a key area to watch, given their direct impact on household spending and the cost of living.
The September figures provide an indication of the direction of inflation, although a decline in the inflation rate does not necessarily mean that prices have fallen. Rather, it means prices are increasing more slowly than before.
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