Nigeria's inflation slows to 15.39% in August amid cost-of-living concerns

Nigeria's headline inflation rate slowed marginally to 15.39% in August 2026, according to data released by the National Bureau of Statistics (NBS). The figure represents a slight decrease from the 15.43% recorded in July 2026 and is significantly lower than the 23.14% rate from August 2025. The NBS report, published on Tuesday, September 15, 2026, indicated that the month-on-month inflation rate also moderated, standing at 0.71% in August compared to 1.57% in July. This suggests the pace of price increases for goods and services slowed during the month. A key driver of the overall slowdown was a sharp deceleration in food inflation. The food inflation rate fell to 19.57% year-on-year in August, down from 25.30% in the same month of the previous year. On a month-on-month basis, food inflation dropped significantly to 1.02% from 5.56% in July. The NBS attributed this decline to changes in the average prices of items such as palm oil, onions, beef, yam flour, and fresh fish. Despite the official data showing a slowdown, the report highlights a persistent disconnect between macroeconomic indicators and public perception. A Central Bank of Nigeria (CBN) survey found that 67.