Nigeria’s inflation price drops to 14.63%

Nigeria’s headline inflation price fell to 14.63 per cent in September 2026 from 15.39 per cent in August, as common meals costs declined through the month, in line with the National Bureau of Statistics.

The bureau’s newest Consumer Price Index report, launched on Thursday, confirmed that annual inflation additionally eased from 20.98 per cent in September 2025. On a month-on-month foundation, headline inflation slowed to 0.06 per cent from 0.71 per cent in August. This signifies that total shopper costs continued to rise, however at a slower tempo.

Food costs, nonetheless, fell by 1.55 per cent throughout September, reversing a 1.02 per cent improve in August. The NBS linked the moderation to actions within the costs of things together with native short-grained rice, maize flour, guinea corn flour, recent onions, palm oil, tomatoes, okra, Irish potatoes, plantain and eggs.

Annual meals inflation stood at 19.59 per cent, in contrast with 20.16 per cent in September 2025, which means meals costs remained larger than a yr earlier regardless of the month-to-month decline. Core inflation, which excludes unstable agricultural produce and power costs, stood at 12.95 per cent year-on-year.

On a month-to-month foundation, core inflation rose to 1.11 per cent from a decline of 0.06 per cent in August, indicating renewed value will increase exterior these classes. Food and non-alcoholic drinks remained the biggest contributors to headline inflation, accounting for five.85 share factors. Restaurants and lodging providers contributed 1.89 share factors, whereas transport contributed 1.56 share factors.

The report confirmed differing actions throughout the inflation sub-indices launched following the bureau’s rebasing train. Energy costs elevated by 5.38 per cent month-on-month, whereas providers rose by 0.41 per cent, items by 0.10 per cent and imported meals by 0.04 per cent. Farm produce costs declined by 2.86 per cent.

Annual inflation stood at 18.85 per cent for farm produce, 10.85 per cent for power, 14.51 per cent for providers, 14.31 per cent for items and 9.18 per cent for imported meals. Urban inflation remained larger than rural inflation, at 15.64 per cent year-on-year in contrast with 12.46 per cent.

Monthly city inflation elevated to 0.53 per cent from 0.28 per cent in August. Rural costs fell by 0.89 per cent, reversing a 1.79 per cent improve the earlier month. Among states, Imo recorded the best annual headline inflation price at 30.04 per cent, adopted by Enugu at 22.38 per cent and Niger at 22.05 per cent.

Taraba recorded the bottom price at 1.78 per cent, adopted by Bauchi at 2.84 per cent and Adamawa at 3.66 per cent. Monthly headline inflation was highest in Imo at 8.64 per cent, adopted by Kaduna at 4.46 per cent and Sokoto at 3.01 per cent. Prices declined by 6.10 per cent in Adamawa, 5.31 per cent in Bauchi and 4.49 per cent in Kano.

Lagos recorded the best annual meals inflation price at 34.40 per cent, adopted by Imo at 33.79 per cent and Ondo at 31.49 per cent. Annual meals costs declined by 7.47 per cent in Taraba and 0.37 per cent in Yobe, whereas Borno recorded meals inflation of two.18 per cent.

On a month-to-month foundation, meals costs rose most sharply in Imo, at 5.15 per cent, adopted by Ondo at 4.46 per cent and Oyo at 3.82 per cent. Adamawa, Kano and Bauchi recorded month-to-month meals value declines of 13.84 per cent, 11.01 per cent and 10.21 per cent, respectively.

The NBS mentioned the report used a 2024 base yr and a 2023 expenditure weight reference interval following its rebasing train. It cautioned that variations in family spending patterns have an effect on the weights assigned to meals and non-food gadgets throughout states, making direct comparisons probably deceptive.