Nigeria’s inflation rate drops to 14.63%

The headline inflation rate fell by 0.76 percentage point to 14.63 per cent in September from 15.39 percent in August 2026, representing the third consecutive month of decline since June.

The development was driven by a further ease in the core basket to 13.29 per cent in August from 13.29 per cent in August.

The National Bureau of Statistics (NBS) disclosed this today in its Consumer Price Index (CPI) report for September 2026.

NBS said: “In September 2026, the headline inflation rate stood at 14.63%, down from 15.39 per cent in August 2026, and stood at 20.98 per cent in the same month of the preceding year (September 2025).

“Looking at the movement, the September 2026 headline inflation rate showed a decrease of 6.35 per cent compared to the September 2025 (20.98 per cent) headline inflation rate.

“On a month-on-month basis, the headline inflation rate in September 2026 was 0.06 per cent, which was 0.65 percentage points lower than the rate recorded in August 2026 (0.71 per cent). “This means that in September 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in August 2026.

Likewise, food inflation declined by 0.02 percentage points to 19.59 per cent in September from 19.57 per cent in August.