Nigeria’s Inflation Rate Falls To 15.39% In August

Nigeria's headline inflation rate declined to 15.39 percent in August 2026, down from 15.43 percent in July, according to the National Bureau of Statistics (NBS). The latest figure marks a 0.04 percentage point reduction from the previous month. The bureau also highlighted a significant slowdown in the month-on-month inflation rate, which stood at 0.71 percent in August, compared to 1.57 percent in July.

This 0.86 percentage point drop in the monthly figure signifies a lower rate of price increase compared to July 2026. The NBS noted that the average price level rose less in August 2026 than in July 2026. Additionally, food inflation decreased year-on-year to 19.57 percent in August 2026, lower than the 25.30 percent in August 2025.

On a month-on-month basis, food inflation fell sharply to 1.02 percent in August, down from 5.56 percent in July, a decline of 4.55 percentage points. The bureau concluded that the prices of food items are increasing at a slower rate in August 2026.