Nigeria's Food Inflation Hits 8.89%, Lowest in 14 Years

As reported by the National Bureau of Statistics (NBS), Nigeria's food inflation rate fell to 8.89% in January 2026, the lowest level in over 14 years. This marks the first time food inflation has dropped below 10% since May 2015.

The decline from 29.63% in January 2025 represents a sharp 20.73 percentage point decrease year-on-year. Month-on-month, food inflation contracted by 6.02% compared to a 0.36% decline in December 2025.

The last time food inflation was this low was in August 2011, when it stood at 8.66%. The report attributes this slowdown to decreasing average prices of various food items, including yam, eggs, and palm oil.

The twelve-month average food inflation rate was 20.29% in January 2026, significantly lower than the 38.47% recorded in January 2025. Food inflation has been a major contributor to headline inflation, accounting for 6.04 percentage points of the overall 15.10% inflation rate.