The latest figures show that Nigeria’s inflation rate declined by 6.35 percentage points compared with the 20.98% recorded in September 2025.
The NBS reported that the Consumer Price Index (CPI) rose slightly to 146.38 in September from 146.30 in August, an increase of 0.08 points.
On a month-on-month basis, headline inflation dropped to 0.06% in September from 0.71% in August. This indicates that average prices increased at a slower pace during the month.
Urban inflation stood at 15.64% year-on-year in September, while the month-on-month rate rose to 0.53% from 0.28% in August. The twelve-month average urban inflation rate was 15.90%, down from 28.48% recorded in September 2025.
In rural areas, inflation fell to 12.46% year-on-year. The month-on-month rate also declined to -0.89% in September, compared with 1.79% in August. The twelve-month average rural inflation rate stood at 15.32%, below the 25.67% recorded a year earlier.
Food inflation also eased, falling to 19.59% year-on-year in September from 20.16% in the same month of 2025. On a month-on-month basis, food inflation dropped to -1.55%, compared with 1.02% in August.
The NBS linked the decline to price changes in several food items, including guinea corn flour, white maize flour, local short-grain rice, eggs, fresh onions, palm oil, green beans, Irish potatoes, okra, fresh tomatoes, dried green peas and plantain.
The average annual food inflation rate for the twelve months ending September 2026 stood at 15.72%, down 12.66 percentage points from 28.37% recorded in September 2025.
