NBS’ August 2026 numbers: Is inflation really trending down?, By Uddin Ifeanyi

Nigeria's education services inflation spiked to 10.72% year-on-year in August, up from 7.51% in July, as households gear up for the new academic session. Education services inflation surged by 3.21 percentage points in August, according to Nairametrics Research's analysis of National Bureau of Statistics (NBS) data. The rise occurred despite Nigeria's headline inflation rate easing slightly to 15.39% from 15.43% in July, indicating that education costs moved in the opposite direction to the overall inflation trend.

The increase in education services inflation aligns with the start of the 2026/2027 academic session in Lagos State, with schools set to resume on September 14, 2026. The NBS data reveal that education services inflation accelerated sharply in August, rising from 7.51% in July to 10.72%. Despite the broader moderation in inflation, with headline inflation easing by 0.04 percentage points to 15.39%, the sharp increase in education services inflation contrasts with the moderation in the overall inflation rate.

Nigerian households are facing higher school-related expenses for the new academic session due to the increase in education services inflation. The timing of the increase is significant as parents have to contend with tuition and other school-related payments, typically due at the beginning of a new academic year.