Nigeria’s Inflation Eases to 15.39% in August as Food Prices Slow
Nigeria’s headline inflation rate eased slightly to 15.39% in August 2026, down from 15.43% in July, as the pace of food-price increases slowed sharply, according to the latest Consumer Price Index report from the National Bureau of Statistics.
The latest figures suggest that price pressures in Africa’s largest economy are continuing to moderate, although consumers are still facing rising costs across key categories.
The August reading represents a marginal 0.04 percentage-point decline from July but a much sharper year-on-year fall from the 23.14% recorded in August 2025.
Monthly Price Growth Slows
On a month-on-month basis, headline inflation stood at 0.71% in August 2026, compared with 1.57% in July. That means prices continued to rise, but at a considerably slower pace than in the previous month.
Food Inflation Records Steep Decline
Food prices, a major driver of inflation in Nigeria, also showed a marked slowdown. Food inflation fell to 19.57% year-on-year in August, down from 25.30% in the same month of 2025.
On a monthly basis, food inflation slowed to 1.02% in August, a sharp drop from 5.56% in July. The decline points to easing pressure in food markets, although food costs remain elevated for many households.
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