Nigeria's Inflation Drops to 15.39% in August 2026

Nigeria's headline inflation rate eased to 15.39% in August 2026, a slight decline of 0.04 percentage points from July's 15.43% and significantly lower than the 23.14% recorded in August 2025, according to the National Bureau of Statistics (NBS). The Consumer Price Index (CPI) rose from 145.3 points in July to 146.3 points in August, indicating a monthly increase of 1.0 point.

On a month-on-month basis, inflation slowed to 0.71% from 1.57% in July. The average CPI for the 12 months ending in August 2026 increased by 16.30%, down from 28.32% in the previous year.

Urban inflation decreased to 15.88% year-on-year, while rural inflation rose to 14.23%. Food inflation fell to 19.57% year-on-year in August, down from 25.30% in August 2025, with a monthly decrease to 1.02% from 5.56% in July.

The NBS attributed the changes in food prices to various commodities, indicating that while prices are still rising, the pace of increase has slowed.