Nigeria's Inflation Rates: August 2026 Overview

In August 2026, Nigeria's headline inflation rate decreased marginally to 15.39% from 15.43% in July, as reported by the National Bureau of Statistics (NBS). Despite this national decline, inflation remained high in several states.

Lagos recorded the highest inflation rate at 23.7%, followed by Zamfara at 22.6% and Enugu at 22.1%. Ondo's inflation fell to 15.1%, down from 17.3%, prompting the Ondo State Government to revise its 2026 budget from N524.4 billion to N769.4 billion, an increase of N245 billion aimed at critical sectors like infrastructure and healthcare.

Osun's inflation rose to 16.0% from 10.6%, with food inflation increasing to 23.8%. Governor Ademola Adeleke supported price-moderation initiatives involving traditional institutions.

Anambra's inflation decreased to 16.0%, while Akwa Ibom's fell to 18.6%. Rivers experienced a rise in inflation to 19.1%, and Adamawa's inflation dropped to 19.4% from 33.0%.