Nigeria's January 2026 Inflation Rate Forecasted to Rise

Analysts forecast that Nigeria's inflation rate for January 2026 will remain broadly flat or edge slightly higher, with expectations of a headline figure within the range of 15% to 16.25%. This projection reflects a delicate balance following the holiday season, with persistent pressures from staple food prices and fuel costs.

Analysts note that January's outcome will provide important early signals for monetary policy decisions in the first quarter. Amolegb offers a muted outlook, suggesting inflation will stabilize with slight increases due to structural cost drivers.

The Central Bank of Nigeria (CBN) may maintain its current tight monetary stance amid ongoing inflation pressures. Sai Odunniga anticipates that Nigeria's disinflation trend will continue, supported by structural reforms and improved foreign exchange liquidity.

The Nairametrics research indicates a mixed price trend for January, with some staple items experiencing notable price drops while others, particularly protein and processed foods, show price increases. The overall pattern suggests moderate food inflation, though declines may be uneven across categories.