Amanze Chinonye
Nigeria’s headline inflation rate eased marginally to 15.39% in August 2026 from 15.43% in July, according to the Consumer Price Index report released by the National Bureau of Statistics.
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The August headline inflation rate was 0.04 percentage points lower than the July rate and declined from 23.14% recorded in August 2025.
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Nigeria’s July Inflation Eases to 15.43% as Food Costs Climb
On a month-on-month basis, the headline inflation rate stood at 0.71% in August, down from 1.57% in July, indicating a slower increase in the average price level during the month.
The food inflation rate stood at 19.57% year-on-year in August, compared with 20.31% in July and 25.30% in August 2025.
On a month-on-month basis, the food inflation rate declined to 1.02% in August from 5.56% in July. The National Bureau of Statistics attributed the moderation to changes in the average prices of several food items, including palm oil, carrots, pepper, onions, cassava flour, beef, yam flour, water yam, egusi, fresh ginger, fish, Irish potatoes, wheat grain, frozen chicken and turkey.
The average food inflation rate for the 12 months ending August 2026 stood at 15.70%, compared with 29.86% recorded in the corresponding period of 2025.
The core inflation rate, which excludes agricultural produce and energy prices, stood at 13.29% year-on-year in August. On a month-on-month basis, the core inflation rate was -0.06%, compared with 0.15% in July.
The average headline inflation rate for the 12 months ending August 2026 stood at 16.30%, down from 28.32% recorded in the corresponding period of 2025.
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Inflation rates varied significantly across states. Lagos recorded the highest year-on-year headline inflation rate at 23.68%, followed by Zamfara at 22.56% and Enugu at 22.06%. Sokoto recorded the lowest headline inflation rate at 2.11%, followed by Kebbi at 3.72% and Jigawa at 3.81%.
On a month-on-month basis, Rivers recorded the highest headline inflation rate at 6.92%, followed by Osun at 5.61% and Kano at 5.59%. Anambra recorded the largest month-on-month decline at 8.83%.
The August figures indicate a continued moderation in the headline inflation rate, while the food inflation rate also recorded a notable decline on both a year-on-year and month-on-month basis. However, the food inflation rate remained higher than the headline inflation rate, underscoring the continued pressure on food prices.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
