The annual inflation rate in Nigeria fell further to 14.63% in September 2026 from 15.39% in August, reaching the lowest level since October 2020. This marked the fourth consecutive month of slowing price growth, helped by the relative stability of the naira currency. Prices slowed down for several categories, including education (9.77% vs 10.72%); health (10.95% vs 12.80%); recreation & culture (3.98% vs 4.59%); furnishings & household equipent (3.62% vs 7.66%) and housing & utilities (15.98% vs 16.94%). However, food inflation remained stubbornly high at 19.59%, little changed from 19.57% in August. Prices also rose faster for restaurants & hotels (19.38% vs 18.57%); tarnsportation (12.63% vs 12%) and miscellaenous goods & services (13.54% vs 12.66%). Meanwhile, the core inflation rate also moderated for the fourth month to the lowest since January 2021 at 12.95%, down from August's 13.29%. On a monthly basis, the CPI rose by 0.06%, after a 0.71% increase in the prior month. source: National Bureau of Statistics, Nigeria

Inflation Rate in Nigeria decreased to 14.63 percent in September from 15.39 percent in August of 2026. Inflation Rate in Nigeria averaged 14.30 percent from 1996 until 2026, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2026.

Inflation Rate in Nigeria decreased to 14.63 percent in September from 15.39 percent in August of 2026. Inflation Rate in Nigeria is expected to be 15.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Inflation Rate is projected to trend around 14.50 percent in 2027 and 13.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-15 01:50 PM
Inflation Rate YoY
Aug 15.39% 15.43% 15.6%
2026-10-15 12:00 PM
Inflation Rate YoY
Sep 14.63% 15.39% 15.5%
2026-11-16 12:00 PM
Inflation Rate YoY
Oct 14.63%


Related Last Previous Unit Reference
Consumer Price Index CPI 146.40 146.30 points Sep 2026
Core Consumer Prices 145.18 143.59 points Sep 2026
Core Inflation Rate 12.95 13.29 percent Sep 2026
CPI Housing Utilities 147.10 146.20 points Sep 2026
CPI Transportation 142.20 140.10 points Sep 2026
Food Inflation YoY 19.59 19.57 percent Sep 2026
GDP Deflator 223.09 216.12 points Jun 2026
Inflation Rate YoY 14.63 15.39 percent Sep 2026
Inflation Rate MoM 0.06 0.71 percent Sep 2026


Nigeria Inflation Rate
In Nigeria, the Consumer Price Index (CPI) measures the change over time in prices of 740 goods and services consumed by people for day-to-day living. The index weights are based on expenditures of both urban and rural households in the 36 states. The most important categories in the CPI are: Food & Non-alcoholic Beverages (52% of the total weight), Housing, Water, Electricity, Gas & Other Fuel (17%), Clothing & Footwear (8%). Transports account for 7% and Furnishings & Household Equipment Maintenance for 5%. Others include: Education (4%); Health (3%); Miscellaneous Goods and Services (2%); Restaurants and Hotels (1%); Alcoholic Beverages, Tobacco & Kola (1%); Recreation & Culture (1%); and Communications (1%).
Actual Previous Highest Lowest Dates Unit Frequency
14.63 15.39 47.56 -2.49 1996 - 2026 percent Monthly
2024=100

News Stream
Nigeria Inflation Rate Hits 2020-Lows
The annual inflation rate in Nigeria fell further to 14.63% in September 2026 from 15.39% in August, reaching the lowest level since October 2020. This marked the fourth consecutive month of slowing price growth, helped by the relative stability of the naira currency. Prices slowed down for several categories, including education (9.77% vs 10.72%); health (10.95% vs 12.80%); recreation & culture (3.98% vs 4.59%); furnishings & household equipent (3.62% vs 7.66%) and housing & utilities (15.98% vs 16.94%). However, food inflation remained stubbornly high at 19.59%, little changed from 19.57% in August. Prices also rose faster for restaurants & hotels (19.38% vs 18.57%); tarnsportation (12.63% vs 12%) and miscellaenous goods & services (13.54% vs 12.66%). Meanwhile, the core inflation rate also moderated for the fourth month to the lowest since January 2021 at 12.95%, down from August's 13.29%. On a monthly basis, the CPI rose by 0.06%, after a 0.71% increase in the prior month.
2026-10-15
Nigeria Inflation Rate Cools Down for 3rd Month
The annual inflation rate in Nigeria eased slightly to 15.39% in August 2026 from 15.43% in July, marking the lowest since March and the third straight month of slowdown. The relative strength of the naira provided support. Food inflation, the largest component of the inflation basket, fell to 19.57% from 20.31% in July, marking the first monthly decline in seven months. Price growth also softened for other CPI items, particularly transportation (12% vs 15.5% in July); restaurants & hotels (18.6% vs 21.8%); miscellaneous goods & services (12.7% vs 15.6%) and clothing & footwear (1.9% vs 4%). Conversely, prices picked up for housing & utilities (16.9% vs 12.6%). Meanwhile, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, also moderated for the third month to the lowest since March 2021 at 13.29%, down from July's 14.97%. On a monthly basis, the CPI rose by 0.71% in August, the least in seven months, after a 1.57% increase in July.
2026-09-15
Nigeria Inflation Rate Slows to 4-Month Low in July
Nigeria’s annual inflation rate eased for the second month to 15.43% in July 2026, the lowest since March, compared to June's 15.91%. The continued relative stability in the naira helped to contain inflationary pressures. Price growth softened for some CPI items, including transportation (15.5% vs 15.6%); miscellaneous goods & services (15.6% vs 17.3%); restaurants & hotels (21.8% vs 23.6%) and clothing & footwear (4% vs 6.4%). However, food inflation, the largest component of the inflation basket, accelerated for the sixth month to 20.31% from 17.52% in June. Higher prices were also seen for housing & utilities (12.6% vs 11.2%). Meanwhile, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, also moderated for the second month to the lowest since May 2022 at 14.97%, down from June's 15.92%. On a monthly basis, the CPI rose by 1.57% in July, after a 1.66% increase in the previous month.
2026-08-17