Nigeria’s inflation rate falls to 14.63% in September, third straight decline

The inflation rate of Nigeria fell to 14.63% in September 2026, as compared to 15.39% seen in August. This is the third straight fall in inflation rate of the nation, since June.

This is an improvement of 0.76 percentage point from last month.

The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index (CPI) report for September 2026, released on Wednesday.

However, the report’s figures on core inflation require clarification. The supplied statement says core inflation stood at 13.29 per cent in August compared with the same 13.29 per cent in August, which appears to be a typographical error.

NBS said: “In September 2026, the headline inflation rate stood at 14.63%, down from 15.39 per cent in August 2026, and stood at 20.98 per cent in the same month of the preceding year (September 2025).

“Looking at the movement, the September 2026 headline inflation rate showed a decrease of 6.35 per cent compared to the September 2025 (20.98 per cent) headline inflation rate.

“On a month-on-month basis, the headline inflation rate in September 2026 was 0.06 per cent, which was 0.65 percentage points lower than the rate recorded in August 2026 (0.71 per cent). “This means that in September 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in August 2026.

Likewise, food inflation declined by 0.02 percentage points to 19.59 per cent in September from 19.57 per cent in August.