Nigeria Inflation Falls to 14.63% in September

Nigeria’s headline inflation fell to 14.63% in September 2026 from 15.39% in August, according to the National Bureau of Statistics, extending a year-on-year decline in the pace of price increases. The NBS Consumer Price Index report, released October 15, put September inflation 6.35 percentage points below the 20.98% recorded a year earlier. Monthly headline inflation slowed to 0.06% from 0.71% in August, indicating that average prices rose more slowly during the month. The report also put year-on-year food inflation at 19.59% in September, compared with 20.16% in September 2025. However, accounts of the figures differ on the comparison with August 2026: one report gives a September figure of 19.57% for August, while NBS figures cited elsewhere show 20.16% as the year-earlier comparison. The supplied material does not resolve the August figure, so it is not possible to establish from these accounts whether annual food inflation rose or fell month to month. The NBS reported month-on-month food inflation of 1.55% in September, down from 1.02% in August, according to figures in its report. The report attributed movements in food prices to changes in the average prices of...