Nigeria’s food inflation drops for first time in six months to 19.57%

In August 2026, Nigeria's food inflation rate decreased to 19.57%, marking its first decline in six months and ending a series of consecutive increases. According to the National Bureau of Statistics (NBS), this was a 0.74 percentage-point drop from 20.31% in July 2026 and a 5.73 percentage-point reduction from 25.30% in August 2025.

The decline came after a period of rising food inflation, which started in March and saw prices rise from 8.89% in January to 20.31% in July. The moderation was more evident month-to-month, with food inflation falling to 1.02% in August from 5.56% in July, a 4.54 percentage-point decrease. Several food products, such as palm oil, carrots, pepper, onions, cassava flour, beef, yam flour, water yam, melon, fresh ginger, fresh fish, Irish potatoes, wheat grain, frozen chicken, and turkey meat, contributed to the price changes.

Despite the moderation, food prices remained a significant factor in Nigeria's overall inflation. On a month-to-month basis, food inflation was highest in Katsina (9.48%), Rivers (8.86%), and Osun (8.32%). Conversely, Taraba experienced the most significant decline at -12.42%, followed by Borno (-12.15%) and Bauchi (-8.88%). The NBS advised against comparing inflation rates across states due to differing consumption patterns and item weights.

Nigeria's headline inflation slightly decreased to 15.39% in August from 15.43% in July, while month-on-month headline inflation slowed to 0.71% from 1.57%. Analysts had predicted August headline inflation to range between 15.3% and 15.94%, and expected food inflation to remain a dominant pressure point, even as core inflation continued to ease.