Nigeria inflation falls to 15.39% in August as food price growth slows
Nigeria's headline inflation rate edged down to 15.39 percent in August 2026, a slight drop from 15.43 percent in July and far below the 23.14 percent recorded in August 2025, according to the National Bureau of Statistics CPI report released Tuesday. Food inflation eased to 19.57 percent year-on-year from 20.31 percent in July, with the monthly rate plunging from 5.56 percent to 1.02 percent. Core inflation, excluding volatile food and energy, fell to 13.29 percent year-on-year and turned negative at -0.06 percent month-on-month. Urban inflation stood at 15.88 percent year-on-year, rural at 14.23 percent, highlighting divergent price pressures. State-level data showed Lagos with the highest headline inflation at 23.68 percent, followed by Zamfara (22.56) and Enugu (22.06), while Sokoto posted the lowest at 2.11 percent. For food inflation, Adamawa led at 38.85 percent, then Zamfara (37.96) and Bayelsa (36.20). The NBS noted that differences in consumption patterns make direct state comparisons misleading. Although prices continue to rise, the slower pace—especially in food—offers modest relief to households facing high living costs. Urban consumers benefited from a sharp slowdown in monthly price increases, whereas rural areas saw faster monthly gains. The moderation may influence monetary policy decisions and business cost planning.