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

Nigeria's headline inflation rate decreased to 15.39% in August 2026, a slight decline from 15.43% in July and a significant drop from 23.14% in August 2025, according to the National Bureau of Statistics (NBS). The Consumer Price Index rose to 146.3 points in August from 145.3 points in July.

Month-on-month inflation slowed to 0.71% in August from 1.57% in July. Food and non-alcoholic beverages contributed 6.16 percentage points to annual inflation, with food inflation at 19.57% year-on-year, down from 25.30% in August 2025.

Monthly food inflation decreased sharply to 1.02% from 5.56% in July. The NBS attributed this moderation to price changes in various food items.

Core inflation also moderated to 13.29% year-on-year from 22.93% in August 2025, with month-on-month core inflation at -0.06%. Urban inflation was recorded at 15.88%, while rural inflation was lower at 14.23%, with rural prices rising faster during the month.