Nigeria’s headline inflation rate fell to 14.63 per cent in September 2026, down from 15.39 per cent recorded in August, according to the National Bureau of Statistics (NBS).
The bureau disclosed this in its Consumer Price Index report released on Thursday, nothing, that “On a month-on-month basis, the Headline inflation rate was 0.06%.
“Food inflation was 19.59% year-on-year and -1.55% Month-on-month,” it said.
In August 2026, the headline inflation rate eased to 15.39%, down from 15.43% in July 2026.
Food Inflation Rate (Year-on-Year) climbed to 19.59% compared to 19.57% in August.
The latest September 2026 Consumer Price Index (CPI) report reveals significant regional differences in price movements across Nigeria.
While overall national inflation slowed, the cost burden varied greatly depending on the state.
Imo State recorded the highest year-on-year headline inflation rate at 30.04%, followed by Enugu (22.38%) and Niger (22.05%).
For highest monthly shifts, Imo State again led with a month-on-month food inflation increase of 5.15%.
Ondo followed closely at 4.46%, and Oyo recorded 3.82%.
The NBS attributed the moderation in food inflation to changes in the average prices of several food items, including local short-grained rice, maize flour, guinea corn flour, fresh onions, palm oil, fresh tomatoes, okra, Irish potatoes, plantain and eggs.
Food inflation, measured on a year-on-year basis, stood at 19.59 percent in September, compared with 20.16% in September.
On a month-on-month basis, food inflation declined to -1.55 percent in September from 1.02 percent in August, indicating that average food prices fell during the month.
The decline in food prices could provide some relief to households grappling with high living costs, although the overall impact on purchasing power will depend on how quickly the slowdown translates into more affordable food and other essential goods.
Despite the moderation in headline inflation, core inflation, which excludes volatile agricultural produce and energy prices, remained elevated at 12.95 percent year-on-year in September.
On a month-on-month basis, core inflation rose to 1.11 percent in September from -0.06 percent in August, indicating renewed price pressures in items outside the volatile food and energy categories.
The NBS said food and non-alcoholic beverages remained the largest contributors to headline inflation at 5.85 percent, followed by restaurants and accommodation services at 1.89 percent and transport at 1.56 percent.
The report also showed divergent price movements across newly introduced inflation sub-indices following the bureau’s recent rebasing exercise.
On a month-on-month basis, energy inflation rose by 5.38 percent, while services increased by 0.41 percent, goods by 0.10 percent and imported food by 0.04 percent. Farm produce inflation, however, declined by 2.86 percent.
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