By Samuel Akpan
Nigeria’s inflation rate eased to 14.63% in September 2026 from 15.39% in August, extending a four-month disinflation run, the National Bureau of Statistics said on Thursday.
The latest figure marks a 6.35 percentage point drop from the 20.98% recorded in September 2025, while month-on-month headline inflation slowed to 0.06% from 0.71% in August.
Urban and rural inflation moved in mixed directions, with urban inflation at 15.64% year-on-year and a 15.90% twelve-month average—12.58 points below the 28.48% of September 2025.
Food inflation stood at 19.59% year-on-year, down from 20.16% a year earlier, while month-on-month food prices fell to -1.55% from 1.02% in August, a 2.57-point decline.
NBS linked the monthly food drop to shifts in grains, rice, eggs, onions, palm oil, vegetables, potatoes, plantain and tomatoes.
The twelve-month average food rate was 15.72%, down 12.66 points from 28.37% a year earlier.
The Farm Produce sub-index fell even more sharply (-2.86% month-on-month), confirming that the biggest relief came from agricultural produce rather than processed or imported food.
Core inflation, which strips out volatile farm produce and energy, rose month-on-month to 1.11% from -0.06% in August, though its annual rate fell to 12.95% from 22.11% a year earlier.
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