Nigeria’s inflation drops to 14.63% in September, says NBS

Nigeria’s headline inflation rate eased to 14.63 per cent in September 2026 from 15.39 per cent in August, according to the latest Consumer Price Index report released by the National Bureau of Statistics.

The report, published on Thursday, indicated a further slowdown in the country’s inflation rate, with the September figure also marking a significant decline compared with the same period last year.

According to the NBS, headline inflation dropped by 6.35 percentage points from 20.98 per cent recorded in September 2025 to 14.63 per cent in September 2026.

“In September 2026, the headline inflation rate stood at 14.63 per cent, down from 15.39 per cent in August 2026 and 20.98 per cent in September 2025,” the NBS said.

The bureau also reported a sharp moderation in month-on-month inflation, which fell to 0.06 per cent in September from 0.71 per cent in August.

The decline represented a reduction of 0.65 percentage points, suggesting that the pace of increase in average prices slowed considerably during the period.

“This means that in September 2026, the rate of increase in the average price level was lower than the rate recorded in August 2026,” the bureau stated.

Meanwhile, food inflation, which remains a major concern for Nigerian households, stood at 19.59 per cent year-on-year in September 2026.

The figure was lower than the 20.16 per cent recorded in September 2025, indicating a moderation in the annual rate of food price increases.

However, despite the decline in headline and food inflation, the figures indicate that prices continued to rise, although at a slower rate than in previous periods.