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

Nigeria's headline inflation rate slowed to 15.39 percent in August 2026, as reported by the National Bureau of Statistics (NBS) on September 15. This figure reflects a marginal decline of 0.04 percentage points from the 15.43 percent recorded in July 2026 and shows a notable improvement from the 23.14 percent inflation rate in August 2025, indicating a 7.75 percentage-point decline over the year.

The report indicates that while prices continue to rise, the rate of increase has slowed. Month-on-month, the average price level rose by 0.71 percent in August, down from 1.57 percent in July, representing a decline of 0.86 percentage points in the monthly inflation rate.

The 12-month average change in the Consumer Price Index (CPI) was 16.30 percent for the period ending August 2026, a decrease of 12.02 percentage points from 28.32 percent in August 2025. Urban inflation was recorded at 15.88 percent year-on-year in August, with a month-on-month rate of 0.28 percent, while rural inflation data was not fully provided.