Inflation falls to 14.63% in September — NBS

Abdullateef Fowewe

Nigeria’s headline inflation rate dropped to 14.63 per cent in September 2026, down from 15.39 per cent in August, the National Bureau of Statistics (NBS) revealed on Thursday.

The figure is 6.35 percentage points lower than the 20.98 per cent recorded in September 2025, indicating a marked slowdown in the pace at which consumer prices are rising year-on-year.

“In September 2026, the headline inflation rate stood at 14.63%, down from 15.39% in August 2026 and 20.98% in the same month of the preceding year (September 2025),” the NBS said in its latest Consumer Price Index report.

On a month-on-month basis, headline inflation stood at 0.06 per cent in September, compared with 0.71 per cent in August — a decline of 0.65 percentage points.

“This means that in September 2026, the rate of increase in the average price level was lower than in August,” the statistics office said.

The September figure represents the latest in a run of easing inflation readings.

Headline inflation had fallen to 15.39 per cent in August from 15.43 per cent in July, according to the NBS.

Urban and rural trends

Urban inflation was 15.90 per cent year-on-year in September, 12.58 percentage points below the 28.48 per cent recorded in the corresponding month of 2025.

Rural inflation stood at 12.46 per cent year-on-year.

Month-on-month, rural prices fell by 0.89 per cent, down 2.68 percentage points from August’s 1.79 per cent, while the 12-month average rural inflation rate was 15.32 per cent.

The decline suggests that the pressure on household purchasing power is easing, although inflation remains well above the single-digit level generally associated with price stability.

Recent reports attributed the moderation partly to a slowdown in food-price increases.

The NBS compiles the Consumer Price Index by tracking changes in the prices of a basket of goods and services purchased by households; the headline rate captures overall price movements, including food, housing, transport and energy.

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