Nigeria's Inflation Rate Falls to 14.63% in September 2026

Nigeria's headline inflation rate decreased to 14.63% in September 2026, down from 15.39% in August, as reported by the National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) report released on October 15, 2026. This decline represents a significant reduction of 6.35 percentage points from the 20.98% recorded in September 2025, indicating a slowdown in price increases over the past year.

The NBS also noted that month-on-month headline inflation fell to 0.06% in September from 0.71% in August. Additionally, food inflation, a crucial aspect of household spending, decreased to 19.59% in September 2026 from 20.16% in September 2025.

On a month-on-month basis, food inflation dropped to -1.55% in September from 1.02% in August, reflecting a decline of 2.57 percentage points and indicating that food prices fell on average during this period. The NBS attributed the changes in food prices to fluctuations in the costs of various items, including grains, rice, eggs, onions, palm oil, vegetables, potatoes, plantain, and tomatoes.