Nigeria’s headline inflation rate declined 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 latest figure also represents a significant decrease from the 20.98 per cent recorded in September 2025, indicating a year-on-year decline of 6.35 percentage points.
The NBS disclosed this in its September 2026 Consumer Price Index and Inflation Report.
On a month-on-month basis, headline inflation fell to 0.06 per cent in September from 0.71 per cent in August, suggesting that the pace of increase in average prices slowed during the period.
The report also showed a decline in urban inflation, with the rate falling to 15.90 per cent in September 2026 from 28.48 per cent recorded in the corresponding period of 2025.
Similarly, rural inflation stood at 12.46 per cent year-on-year in September 2026.
On a month-on-month basis, rural inflation dropped to -0.89 per cent in September, compared with 1.79 per cent in August, indicating a decline in average prices in the rural consumer basket during the month.
The corresponding 12-month average rural inflation rate stood at 15.32 per cent in September 2026, compared with 25.67 per cent recorded in September 2025.
The latest figures point to a continued slowdown in Nigeria’s inflation rate, although the decline in the inflation rate does not necessarily mean that the general price level has returned to its previous level.
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