Nigeria’s Inflation Falls to 14.63% as Decline Extends to Third Consecutive Month
Nigeria’s headline inflation rate declined to 14.63 per cent in September 2026 from 15.39 per cent in August, marking the third consecutive monthly drop since June, according to the National Bureau of Statistics (NBS).
The NBS disclosed this in its Consumer Price Index (CPI) report for September 2026, released on Thursday.
The latest figure represents a decrease of 0.76 percentage points from August’s rate and a significant decline from the 20.98 per cent recorded in September 2025.
According to the bureau, the year-on-year decline of 6.35 percentage points indicates a moderation in the rate of increase in consumer prices compared with the corresponding period last year.
On a month-on-month basis, headline inflation fell to 0.06 per cent in September from 0.71 per cent in August, representing a decrease of 0.65 percentage points.
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The NBS explained that the figures indicate that the average price level increased at a much slower rate in September than in the preceding month.
However, the decline in the headline inflation rate does not necessarily mean that prices have fallen across the economy. Rather, it indicates that prices are rising more slowly on average.
The report also contained figures on food inflation, but the data presented in the source report appear inconsistent. It stated that food inflation declined by 0.02 percentage points to 19.59 per cent in September from 19.57 per cent in August. However, the figures indicate an increase of 0.02 percentage points, not a decline.
The food inflation figures therefore require verification against the original NBS report.
The continued moderation in headline inflation marks a further slowdown in the pace of price increases, although its impact on household purchasing power will depend on food prices, other essential costs and income growth.
By PRNigeria
