Nigeria’s headline inflation rate declined to 14.64 per cent in September 2026, down from 15.39 per cent recorded in August, according to the National Bureau of Statistics (NBS).
The NBS disclosed this in its Consumer Price Index and Inflation Report released on Thursday, indicating a further slowdown in the country’s overall inflation rate.
Despite the decline in headline inflation, food inflation rose marginally to 19.59 per cent in September from 19.57 per cent in August, highlighting the continued pressure of food prices on Nigerian households.
The slight increase in food inflation suggests that the cost of essential food items remains a concern for consumers, despite the broader moderation in inflation.
The latest figures come amid efforts by the Central Bank of Nigeria (CBN) to manage inflation through monetary policy adjustments.
At its September Monetary Policy Committee meeting, the CBN reduced the benchmark interest rate to 23 per cent from 26.5 per cent, citing the easing inflation trend.
The decline in headline inflation represents a slowdown in the rate at which the general price level is rising. However, it does not necessarily mean that prices are falling, as consumers may continue to face high costs for food and other essential goods.
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