Nigeria inflation inches down to 15.39% but prices still rise, analyst warns
Nigeria's headline inflation eased slightly from 15.43 percent in July to 15.39 percent in August 2026, according to the National Bureau of Statistics. Financial analyst Godwin Oyedokun of Lead City University says the drop shows prices are still rising, just at a slower pace, and notes a decline in month-on-month inflation that could signal an easing of immediate price pressures.
However, Oyedokun warns that food inflation remains high, so many households may not yet feel relief in daily expenses. He adds that one month of moderation will not instantly lower bank loan rates; any impact on borrowing costs would be gradual and depends on whether the downward trend continues. If disinflation sustains, the Central Bank of Nigeria could gain room to consider monetary easing, which might eventually lead to lower lending rates and better credit access.
Oyedokun calls the August figure encouraging but not a victory over inflation. He urges policymakers to sustain the trend by improving food supply, strengthening purchasing power, boosting business productivity and expanding access to affordable credit.
With prices still climbing and food costs high, will you adjust your budget, seek cheaper alternatives, or hold off on taking new loans until lending rates potentially drop?