Nigeria’s inflation rate slides to 14.63% in Sept 2026
Nigeria’s apex statistical agency, the National Bureau of Statistics (NBS) has said headline inflation rate has eased to 14.63 percent in September 2026, down from the 15.39 percent in August.
NBS announced the development in its consumer price index (CPI) report released on Thursday.
The report showed that headline inflation declined by 6.35 percentage points from 20.98 percent recorded in September 2025.
“In September 2026, the Headline inflation rate stood at 14.63%, down from 15.39% in August 2026 and stood at 20.98% in the same month of the preceding year (September 2025),” NBS said.
“On a month-on-month basis, the Headline inflation rate in September 2026 was 0.06%, which was 0.65% lower than the rate recorded in August 2026 (0.71%).
“This means that in September 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in August 2026.”
According to NBS, the food inflation rate in September 2026 was 19.59 percent on a year-on-year basis.
It also said the food inflation rate is lower compared to the 20.16 percent recorded in the same month of the preceding year.
NBS also attributed the development to the rate of change in the average prices of Guinea corn flour, sold loose, Maize (Corn) Flour White (sold loose), Rice Local, short-Grained, Egg, Onion Fresh, Palm oil, Green Beans Fresh, Irish Potatoes, Okra, Tomatoes Fresh, Green Peas (Dried), Plantain, among others.
Core Inflation Rate:
Core Inflation, which excludes the prices of volatile agricultural produce and energy, stood at 12.95% in September 2026 on a year-on-year basis. On a month-on-month basis, the core inflation rate was 1.11% in September 2026, up by 1.17% compared to August 2026 (-0.06%).
The newly introduced indices:
The inflation rate of the sub-indices for September 2026 shows that the monthly change recorded were Farm Produce (-2.86%), Energy (5.38%), Services (0.41%), Goods (0.10%) and Imported Food (0.04%). Meanwhile, the inflation rate on a year-on-year basis recorded were as follows; Farm Produce (18.85%), Energy (10.85%), Services (14.51%), Goods (14.31%) and Imported Food (9.18%).
