Nigeria’s headline inflation rate decelerated to 14.63% in September 2026, down from 15.39% recorded in August. The performance represents the lowest annual inflation reading recorded in the country since January 2025.
According to figures from the National Bureau of Statistics (NBS) on Thursday, consumer prices dropped by 6.35 percentage points compared to the 20.98% recorded in September 2025.
On a month-on-month basis, headline price momentum slowed sharply to 0.06% in September, down 0.65 percentage points from the 0.71% growth rate reported in August.
The disinflation trend was anchored by moderation in food inflation, which registered a slight month-on-month decrease to 19.57% from 19.59%, bolstered by seasonal main-crop harvest gains across agricultural belts.
The headline print aligns with recent monetary easing by the Central Bank of Nigeria (CBN), which lowered its benchmark Monetary Policy Rate (MPR) by 350 basis points to 23%.
That rate reduction reflected mounting policy confidence in sustainable disinflation alongside rising foreign exchange buffers.
