Nigeria’s Inflation Slows to 14.63% as Monthly Price Growth Nearly Stalls
Nigeria’s headline inflation rate fell to 14.63 per cent in September 2026, down from 15.39 per cent in August, according to the National Bureau of Statistics (NBS), signalling a further slowdown in the pace of price increases. The bureau disclosed this in its Consumer Price Index report released on Thursday, which also showed that annual inflation was 6.35 percentage points lower than the 20.98 per cent recorded in September 2025.
The decline was more pronounced on a month-on-month basis, with inflation dropping to 0.06 per cent in September from 0.71 per cent in August. This represents a reduction of 0.65 percentage points and indicates that average consumer prices increased at a much slower pace during the month than in the preceding period.
Food inflation also recorded a year-on-year decline, falling to 19.59 per cent in September 2026 from 20.16 per cent in September 2025. The figures suggest easing inflationary pressure in the food sector, although the rate remains relatively high compared with the overall headline inflation figure.
Despite the improvement in the inflation indicators, the slowdown does not mean that goods and services have become cheaper. Rather, prices are rising more slowly than before, meaning households may continue to face pressure on their purchasing power. The latest figures therefore point to moderating inflation, while the cost of living remains an important concern for Nigerian consumers.
