The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate has dropped to 15.39 percent in August 2026, down from the 15.43 percent in July.
NBS announced the increase in its consumer price index (CPI)
report on Wednesday.
“Headline inflation rate showed a decrease of 0.04% compared
to the July 2026 Headline inflation rate,” the bureau said.
“On a month-on-month basis, the Headline inflation rate in
August 2026 was 0.71%, which was 0.86% lower than the rate recorded in July
2026 (1.57%).
“This means that in August 2026, the rate of increase in the
average price level was lower than the rate of increase in the average price
level in July 2026.”
FOOD INFLATION RATE STOOD AT 19% IN AUGUST
NBS said the food inflation rate in August 2026 was 19.57
percent on a year-on-year basis.
The bureau also said the food inflation rate is lower
compared to the 25.30 percent recorded in the same month of the preceding year.
“However, on a month-on-month basis, the Food inflation rate
in August 2026 was 1.02%, down by 4.55% points from July 2026 (5.56%),” the
report reads.
“This shows that the average prices of food items are
increasing at a decreasing rate in August 2026.”
The statistics firm said the decline in the rate
can be “attributed mainly to changes in the average prices
of Palm Oil, Carrots, Pepper, Onions, Cassava Flour, Beef, Yam Flour, Water
Yam, Melon (Egusi), Fresh Ginger Fresh Fish, Irish Potatoes, Wheat Grain,
Frozen Chicken, Turkey Meat, Yam Flour, among others”.
NBS further said in August 2026, food inflation on a
year-on-year basis was highest in Adamawa (38.85 percent), Zamfara (37.96
percent), and Bayelsa (36.20 percent)
On the other hand, the slowest rise in food inflation on a
year-on-year basis were recorded in Borno (-4.04 percent), Jigawa (-0.23
percent) and Kebbi (3.47 percent).
However, on a month-on-month basis, the bureau said food
inflation was highest in Katsina (9.48 percent), Rivers (8.86 percent) and Osun
(8.32 percent), while Taraba (-12.42 percent), Borno (-12.15 percent), and
Bauchi (-8.88 percent) recorded the slowest rise.
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