Nigeria’s headline inflation rate eased to 14.63% in September 2026, down from 15.39% recorded in August, according to the National Bureau of Statistics (NBS).
The NBS disclosed this in its Consumer Price Index (CPI) report released on Thursday, October 15.
The latest figure represents a decline of 0.76 percentage points month-on-month and 6.35 percentage points year-on-year from 20.98% recorded in September 2025, signalling a further slowdown in annual price growth.
According to the Bureau, month-on-month headline inflation also dropped sharply to 0.06% in September from 0.71% in August, indicating that average prices increased at a much slower pace during the month.
Food inflation was largely unchanged at 19.59% year-on-year in September compared to 19.57% in August.
The continued moderation comes as the Federal Government and the Central Bank of Nigeria maintain tight monetary policy and ongoing economic reforms. CBN Governor Olayemi Cardoso said on Wednesday at an investors’ engagement in Bangkok, Thailand, that despite the decline from a peak of 34-35% to around 15%, the government will not rest until inflation falls to single digits, describing inflation as the biggest tax on the poor.
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