Nigeria Annual Inflation Rate Falls to 14.63% in September 2026
Nigeria's consumer price inflation slowed for the fourth consecutive month in September 2026, falling to an annual rate of 14.63% from 15.39% in August. This marks the lowest inflation level recorded in the country since October 2020. On a month-over-month basis, consumer prices edged up by just 0.06%, compared to a 0.71% increase in August.
A relatively stable naira currency contributed to easing costs across several key sectors, including housing, utilities, education, health, and household furnishings. Core inflation, which excludes volatile items, also declined for a fourth straight month to 12.95%, its lowest point since January 2021. However, food prices remained elevated at an annual rate of 19.59%, while costs for transportation and dining out showed faster gains.
Investors and market participants will be watching whether currency stability continues to restrain broader price inflation in coming months. They will also track whether food costs and transportation prices begin to moderate or continue to keep headline inflation elevated.
Key points
- Nigeria's annual inflation rate fell to 14.63% in September 2026, down from 15.39% in August.
- The drop represents the fourth consecutive month of slowing inflation and the lowest level since October 2020.
- Core inflation moderated to 12.95% in September, reaching its lowest point since January 2021.
- Food inflation remained high at 19.59%, while price increases slowed across housing, education, and health.
- On a monthly basis, consumer prices increased by 0.06% in September compared to 0.71% in August.
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What was Nigeria's inflation rate in September 2026?
Nigeria's annual inflation rate was 14.63% in September 2026, down from 15.39% in August. This is the lowest inflation rate in the country since October 2020.
Why did Nigeria's inflation rate decrease in September 2026?
Inflation slowed for a fourth straight month due in part to the relative stability of the naira currency, which helped moderate price increases in housing, utilities, education, and health.
What happened to food inflation in Nigeria in September 2026?
Food inflation remained high at 19.59% in September 2026, virtually unchanged from 19.57% recorded in August.