Nigeria’s headline inflation rate dropped to 14.63 per cent in September 2026, down from 15.39 per cent in August 2026, in accordance to a report by the National Bureau of Statistics (NBS).
The report stated the rate stood at 20.98 per cent in September 2025.
It additionally confirmed that meals inflation recorded a destructive month-on-month rate of 1.55 per cent in September 2026, representing a decline of two.57 proportion factors from the 1.02 per cent recorded in August 2026.
“Looking at the movement, the September 2026 Headline inflation rate showed a decrease of 6.35% compared to the September 2025 (20.98%) Headline inflation rate,” the report acknowledged.
On a month-on-month foundation, the headline inflation rate stood at 0.06 per cent in September 2026, representing a lower of 0.65 proportion factors from the 0.71 per cent recorded in August 2026.
“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,” it added.
The report acknowledged that meals inflation stood at 19.59 per cent year-on-year in September 2026, in contrast with 20.16 per cent in the identical month of the previous 12 months.
On a month-on-month foundation, meals inflation stood at -1.55 per cent in September 2026, down by 2.57 proportion factors from 1.02 per cent in August 2026.
According to the report, the event was attributable to modifications within the common costs of merchandise akin to unfastened guinea corn flour, unfastened white maize flour, native short-grain rice, eggs, contemporary onions, palm oil, contemporary inexperienced beans, Irish potatoes, okra, contemporary tomatoes, dried inexperienced peas and plantain, amongst others.
It added that the common annual meals inflation rate for the 12 months ending September 2026 was 15.72 per cent, representing a decline of 12.66 proportion factors from the 28.37 per cent recorded in September 2025.
For core inflation, which measures the all-items index excluding farm produce and power costs, the report stated the rate stood at 12.95 per cent year-on-year in September 2026, in contrast with 22.11 per cent in September 2025.
On a month-on-month foundation, core inflation stood at 1.11 per cent in September 2026, in contrast with -0.06 per cent in August 2026.
The report additional acknowledged that the common annual core inflation rate for the 12 months ending September 2026 was 16.54 per cent, which was 9.13 proportion factors decrease than the 25.68 per cent recorded in September 2025.
A breakdown of headline inflation throughout states confirmed that Imo recorded the best year-on-year rate at 30.04 per cent, adopted by Enugu at 22.38 per cent and Niger at 22.05 per cent.
Taraba recorded the bottom year-on-year headline inflation rate at 1.78 per cent, adopted by Bauchi at 2.84 per cent and Adamawa at 3.66 per cent.
On a month-on-month foundation, Imo recorded the best headline inflation rate at 8.64 per cent, adopted by Kaduna at 4.46 per cent and Sokoto at 3.01 per cent.
In distinction, Adamawa recorded -6.10 per cent, Bauchi -5.31 per cent and Kano -4.49 per cent, representing the bottom month-on-month charges.
For meals inflation, the report stated Lagos recorded the best year-on-year rate at 34.40 per cent, adopted by Imo at 33.79 per cent and Ondo at 31.49 per cent.
Taraba recorded -7.47 per cent, Yobe -0.37 per cent and Borno 2.18 per cent, representing the bottom year-on-year meals inflation charges.
On a month-on-month foundation, meals inflation was highest in Imo at 5.15 per cent, adopted by Ondo at 4.46 per cent and Oyo at 3.82 per cent.
Adamawa recorded -13.84 per cent, Kano -11.01 per cent and Bauchi -10.21 per cent, representing the bottom month-on-month meals inflation charges.
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