Nigeria: Nigeria Inflation Falls to 15.39% in August - NBS

What the report says

Nigeria’s headline inflation eased slightly in August 2026, according to the National Bureau of Statistics, which said the rate fell to 15.39% from 15.43% in July. The figures, released in the agency’s Consumer Price Index report, also show a much lower reading than in August 2025, indicating that price increases continued to slow even though consumer prices still rose overall.

Premium Times reported that the biggest change came in food inflation. Annual food inflation declined to 19.57% in August from 20.31% in July, while the monthly pace of food price growth dropped sharply. The NBS said moderation was seen across several staples and household items, including cooking oil, vegetables, grains, meat, fish and poultry products.

The report also said core inflation, which excludes some volatile items, softened to 13.29% year on year and turned slightly negative month on month. Inflation trends remained uneven across Nigeria, with urban and rural rates moving differently and large gaps between states. Lagos, Zamfara and Enugu were among the highest headline inflation readings, while Sokoto was the lowest.

The August data matter because food and other essentials remain a major burden for households. More broadly, the report suggests inflationary pressure is easing from earlier in the year, though prices have not fallen and living costs remain elevated.