Nigeria’s Inflation Drops To 14.63% As Food Prices Ease

Nigeria’s headline inflation fee declined to 14.63 per cent in September 2026 from 15.39 per cent in August, as meals inflation additionally moderated throughout the interval, in keeping with the National Bureau of Statistics.

The Statistician-General of the Federation, Adeyemi Adeniran, disclosed this in a press launch issued in Abuja on Thursday, noting that the September inflation fee was additionally decrease than the 20.98 per cent recorded in September 2025.

“Headline Inflation Rate: On a year-on-year basis, the headline inflation rate for September 2026 stood at 14.63 per cent, when compared to 15.39 per cent and 20.98 per cent recorded in August 2026 and September 2025.”

The newest figures point out a slowdown within the tempo of enhance in client costs in contrast with the corresponding intervals, though inflationary pressures remained evident in a number of states and classes of family expenditure.

Food inflation, a serious element of family spending, additionally recorded a decline. The NBS mentioned the year-on-year meals inflation fee stood at 19.59 per cent in September 2026, in contrast with 20.16 per cent in September 2025.

On a month-on-month foundation, meals inflation dropped to -1.55 per cent in September from 1.02 per cent in August, representing a decline of two.57 share factors. The adverse fee signifies that meals costs, on common, fell between August and September.

Adeniran attributed the event to adjustments within the common costs of a number of meals objects, together with free guinea corn flour, free white maize flour, regionally produced short-grain rice, eggs, recent onions, palm oil, recent inexperienced beans, Irish potatoes, okra, recent tomatoes, dried inexperienced peas and plantain, amongst others.

A breakdown of the figures by location confirmed that city inflation stood at 15.64 per cent year-on-year in September 2026.

However, the month-on-month city inflation fee rose to 0.53 per cent from 0.28 per cent in August, representing a rise of 0.25 share factors.

In rural areas, headline inflation was 12.46 per cent year-on-year throughout the month underneath overview. On a month-on-month foundation, the agricultural inflation fee fell to -0.89 per cent in September from 1.79 per cent in August, a decline of two.68 share factors.

The state-level figures revealed important variations in inflationary pressures throughout the nation.

Imo State recorded the best year-on-year headline inflation fee at 30.04 per cent, adopted by Enugu at 22.38 per cent and Niger at 22.05 per cent.

At the opposite finish of the dimensions, Taraba recorded the bottom year-on-year headline inflation fee at 1.78 per cent. Bauchi adopted with 2.84 per cent, whereas Adamawa recorded 3.66 per cent.

On a month-on-month foundation, Imo additionally recorded the best headline inflation fee at 8.64 per cent, adopted by Kaduna at 4.46 per cent and Sokoto at 3.01 per cent.

Conversely, Adamawa recorded the steepest month-on-month decline at -6.10 per cent, adopted by Bauchi at -5.31 per cent and Kano at -4.49 per cent.

The report additionally confirmed extensive variations in meals inflation amongst states.

Lagos recorded the best year-on-year meals inflation fee in September at 34.40 per cent, adopted by Imo at 33.79 per cent and Ondo at 31.49 per cent.

Taraba recorded a adverse year-on-year meals inflation fee of -7.47 per cent, indicating a decline in common meals costs in contrast with September 2025. Yobe adopted at -0.37 per cent, whereas Borno recorded 2.18 per cent.

On a month-on-month foundation, Imo recorded the best meals inflation fee at 5.15 per cent, adopted by Ondo at 4.46 per cent and Oyo at 3.82 per cent.

In distinction, Adamawa recorded the most important month-to-month decline in meals inflation at -13.84 per cent, adopted by Kano at -11.01 per cent and Bauchi at -10.21 per cent.

The September figures present that whereas headline and meals inflation moderated nationally, worth actions differed significantly throughout states, with some areas recording substantial will increase and others experiencing month-to-month declines.

ENDS