Nigeria's Inflation Eases to 14.63% in September as Price Pressures Soften

According to Thursday's National Bureau of Statistics report, Nigeria's headline inflation contracted to 14.63% in September 2026, declining from 15.39% in August. This contraction continues a four-month disinflationary streak throughout 2026, offering respite to households and businesses confronting escalating expenses.

Compared to September 2025, when inflation reached 20.98%, the September figure shows substantial progress: a 6.35 percentage-point improvement. The month-on-month headline inflation metric fell dramatically to 0.06% in September, versus 0.71% recorded in August, indicating that average price increases are decelerating considerably.

Food inflation, which worries many Nigerian families, demonstrated moderation as well. According to NBS data, September's year-on-year food inflation stood at 19.59%, with a monthly contraction of 1.55%.

The Consumer Price Index rose only marginally, reaching 146.38 in September compared to 146.30 the preceding month. Monetary policy efforts and complementary economic measures appear to be contributing to restraint in price growth, judging from the consistent monthly reductions observed during late 2026.

Price expansion, however, remains historically elevated. Food costs continue surpassing overall inflation levels, pointing to persistent structural impediments within Nigeria's agricultural sector and product distribution networks.