Nigeria’s Inflation Falls to 14.63% as Price Pressures Ease for Third Straight Month

Nigeria’s inflation rate continued its downward trend in September 2026, falling to 14.63 per cent from 15.39 per cent in August as the pace of price increases slowed for the third consecutive month.

The National Bureau of Statistics (NBS) disclosed the figures in its September 2026 Consumer Price Index (CPI) report released on Thursday.

The latest reading represents a month-on-month decline of 0.76 percentage points and a significant drop from the 20.98 per cent inflation rate recorded in September 2025.

According to the NBS, the September figure reflects a 6.35-percentage-point reduction compared with the corresponding period last year.

The statistical agency said: “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).

“Looking at the movement, the September 2026 headline inflation rate showed a decrease of 6.35 per cent compared to the September 2025 (20.98 per cent) headline inflation rate.”

The report also showed a sharp slowdown in month-on-month inflation, which fell to 0.06 per cent in September from 0.71 per cent in August, a decrease of 0.65 percentage points.

Explaining the development, the NBS said: “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.”

However, food inflation remained elevated, with the report putting the September rate at 19.59 per cent, compared with 19.57 per cent in August.

The figures suggest that overall inflationary pressures continued to moderate, even as food prices remained a major concern for Nigerian households.

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