Nigeria's Inflation Rate Falls to 15.39% in August 2026

The National Bureau of Statistics (NBS) reported that Nigeria's headline inflation rate dropped to 15.39% in August 2026, down from 15.43% in July 2026. The month-on-month inflation rate for August was recorded at 0.71%, which is a decrease from July's 1.57%.

Prince Adeyemi Adeniran, the Statistician General of the Federation, indicated that this decline suggests that average prices are increasing at a decreasing rate. The primary contributors to headline inflation included food and non-alcoholic beverages at 6.16%, restaurants and accommodation services at 1.99%, and transport at 1.64%.

Conversely, the least contributors were recreation, sport and culture at 0.05%, alcoholic beverages, tobacco and narcotics at 0.06%, and insurance and financial services at 0.07%. Food inflation was reported at 19.57% year-on-year, down from 25.30% in August 2025, with a month-on-month rate of 1.02%, a decrease from July's 5.56%.

The decline is attributed to changes in the prices of various food items.