Inflation drops to 15.39%

By Kayode Idowu

Nigeria’s headline inflation rate declined marginally to 15.39 per cent in August 2026, representing a 0.04 percentage-point decrease from the 15.43 per cent recorded in July.
The National Bureau of Statistics (NBS) disclosed this on Tuesday in its Consumer Price Index (CPI) report for August 2026.
According to the statistics agency, the latest figure represents a significant decline compared with the 23.14 per cent headline inflation rate recorded in August 2025.
The NBS said the marginal decline in the headline inflation rate reflected a slower increase in the average prices of goods and services during the month under review.
It stated that on a month-on-month basis, headline inflation stood at 0.71 per cent in August, compared with 1.57 per cent in July.
This represents a decline of 0.86 percentage points between July and August.
“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,” the NBS said.
The latest figures indicate a continued moderation in the pace at which prices are rising, although the 15.39 per cent inflation rate still means that the general price level remains significantly higher than it was a year earlier.
The development comes amid persistent concerns over the cost of living, with Nigerians continuing to grapple with high prices of food, transportation, energy and other essential goods and services.
The decline in the inflation rate is expected to provide some relief to households and businesses, particularly if the trend is sustained in subsequent months.
However, analysts and consumers are likely to remain focused on whether the slowdown in inflation will translate into actual reductions in the prices of goods and services, rather than merely a slower rate of price increases.
The NBS said further details on the August inflation figures would be released in the full report.