Nigeria’s headline inflation price eased to fourteen.63% in September 2026, down from 15.39% in August, extending the rustic’s disinflation development for a fourth consecutive month, consistent with the Nationwide Bureau of Statistics (NBS).
The most recent determine represents a decline of 6.35 share issues from the 20.98% recorded in September 2025. Month-on-month headline inflation additionally slowed to 0.06% in September from 0.71% in August, indicating a slower build up in moderate costs.
The NBS file confirmed blended actions throughout city and rural inflation, whilst meals inflation declined on a month-on-month foundation. Core inflation, on the other hand, greater when compared with August.
City and rural inflation diverge
City inflation stood at 15.64% year-on-year in September 2026, whilst the corresponding twelve-month moderate was once 15.90%. The once a year price was once 12.58 share issues not up to the 28.48% recorded in September 2025.
- On a month-on-month foundation, city inflation rose to 0.53% in September from 0.28% in August, appearing that worth will increase in city spaces sped up throughout the month.
- Rural inflation, in the meantime, stood at 12.46% year-on-year, with its twelve-month moderate at 15.32%. The once a year price was once 10.35 share issues under the 25.67% recorded in September 2025.
- Month-on-month rural inflation fell to -0.89% in September from 1.79% in August.
The NBS reported a 2.68 percentage-point decline within the rural per thirty days inflation price.
- The twelve-month moderate city inflation price fell via 12.58 share issues year-on-year.
- The twelve-month moderate rural inflation price declined via 10.35 share issues over the similar length.
The figures display that whilst annual inflation moderated in each city and rural spaces, per thirty days worth actions differed, with city inflation accelerating and rural inflation recording a decline.
Meals inflation falls, core inflation rises
Meals inflation stood at 19.59% year-on-year in September 2026, down from 20.16% in September 2025. On a month-on-month foundation, meals inflation fell to -1.55%, when compared with 1.02% in August, a decline of two.57 share issues.
The NBS attributed the per thirty days motion to value adjustments in different meals pieces, together with grains, rice, eggs, onions, palm oil, greens, potatoes, plantain and tomatoes. The typical annual meals inflation price for the one year finishing September 2026 was once 15.72%, down 12.66 share issues from 28.37% in September 2025.
- Core inflation, which excludes unstable agricultural produce and effort costs, moved in the other way on a per thirty days foundation.
- Annual core inflation stood at 12.95% in September, down from 22.11% a yr previous.
- Month-on-month core inflation rose to one.11% from -0.06% in August.
- The twelve-month moderate core inflation price was once 16.54%, when compared with 25.68% in September 2025.
The figures point out that the decline in meals costs on a per thirty days foundation helped average headline inflation, whilst underlying worth pressures measured via core inflation reinforced when compared with August.
Naira strengthens forward of inflation file
Nairametrics previously reported that the naira reinforced to N1,333 consistent with buck on the Nigerian Overseas Change Marketplace (NFEM) on October 14, 2026, forward of the discharge of the September inflation file.
The forex motion got here as marketplace individuals awaited the newest inflation knowledge, which gives an replace at the tempo of worth will increase within the Nigerian financial system.