Nigeria’s Inflation Rate Falls To 15.39% In August

Nigeria’s headline inflation rate fell slightly to 15.39 per cent in August 2026, from 15.43 per cent recorded in July, according to the National Bureau of Statistics (NBS).

The statistics agency disclosed this in its Consumer Price Index (CPI) report released on Tuesday, noting that the latest figure represents a 0.04 percentage point decline from the previous month.

The bureau also reported a sharper slowdown in the month-on-month inflation rate, which stood at 0.71 percent in August, compared with 1.57 percent in July.

According to the NBS, the month-on-month figure was 0.86 percentage points lower than the rate recorded in July.

“This means that in August 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in July 2026.”

The NBS also reported a decline in food inflation, which stood at 19.57 percent year-on-year in August 2026.

The figure was lower than the 25.30 percent recorded in August 2025.

On a month-on-month basis, food inflation fell significantly to 1.02 percent in August from 5.56 percent in July, representing a decline of 4.55 percentage points.

“This shows that the average prices of food items are increasing at a decreasing rate in August 2026,” the bureau said.

Credit: channelstv.com

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