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The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation rate was 15.39% year on year in August 2026, compared with 15.43% in July and 23.14% in August 2025. The month-on-month rate was 0.71%, down from 1.57% in July. The agency said the consumer price index rose to 146.3 from 145.3 in the preceding month.

Food inflation was 19.57% year on year and core inflation, defined by NBS as all items less farm produce and energy, was 13.29%. The CPI uses 2024 as its price reference period and 2023 for expenditure weights, drawing on prices from selected outlets across Nigeria’s states and the Federal Capital Territory, urban and rural. A lower inflation rate means prices rose more slowly on average; it does not mean the overall price level fell.