Nigeria’s headline inflation rate eased slightly to 15.39% in August 2026, down from 15.43% in July, as the pace of price increases slowed further across key areas of the economy. The latest figure, released by the National Bureau of Statistics (NBS), also represents a significant decline from the 23.14% recorded in August 2025.
The latest data shows that the moderation was more noticeable on a month-on-month basis. Headline inflation fell to 0.71% in August, compared with 1.57% in July, indicating that consumer prices continued to rise but at a much slower pace. Urban inflation also eased to 15.88% year-on-year, while its monthly rate dropped to 0.28% from 1.90% in July.
Food prices provided some relief during the month, with food inflation falling to 19.57% year-on-year, compared with 25.30% a year earlier. On a monthly basis, food inflation dropped sharply to 1.02% from 5.56% in July. The NBS linked the moderation to changes in the prices of several food items, including palm oil, pepper, onions, beef, yam flour, fresh fish, potatoes, wheat, chicken and turkey.
Core inflation also recorded a notable decline, falling to 13.29% year-on-year in August, while the month-on-month rate stood at -0.06%, compared with 0.15% in July. However, the improvement was not uniform across the country. Rural inflation stood at 14.23% year-on-year, while its monthly rate increased to 1.79% from 0.78% in July, showing that some households in rural areas continued to face short-term price pressures.
While the latest figures point to a slower pace of inflation, the cost-of-living challenge remains significant for Nigerian households. The August data therefore presents a mixed picture: inflation is easing, particularly in food and core categories, but prices remain elevated and household purchasing power continues to face pressure. For consumers and businesses, the key question now is whether the downward trend will continue in the coming months.
source: Nairametrics
