Nigeria's inflation drops to 15.39% in August as food prices ease significantly

Nigeria's headline inflation rate fell slightly to 15.39 percent in August 2026 from 15.43 percent in July, according to the National Bureau of Statistics (NBS). Month-on-month inflation dropped to 0.71 percent from 1.57 percent in July, a 0.86 percentage point decline. Food inflation decreased more notably to 19.57 percent year-on-year in August from 25.30 percent in August 2025, with month-on-month food inflation plunging to 1.02 percent from 5.56 percent in July—a 4.55 percentage point drop.

This slowdown offers modest relief to households facing high living costs, though inflation remains elevated at 15.39%, meaning prices continue rising significantly. The sharp decline in food inflation suggests specific items like palm oil, carrots, pepper, onions, cassava flour, beef, yam flour, water yam, melon (egusi), fresh ginger, fresh fish, Irish potatoes, wheat grain, frozen chicken and turkey meat are becoming more affordable. State-level data shows extreme variation: Adamawa recorded highest food inflation at 38.85 percent, Zamfara at 37.96 percent, and Bayelsa at 36.20 percent, while Borno experienced deflation at -4.04 percent, Jigawa at -0.23 percent, and Kebbi at 3.47 percent.

While the trend is positive, Nigerians should budget for continued price increases given headline inflation remains above 15%. Location matters significantly—residents in Borno/Jigawa may see food cost relief while those in Adamawa/Zamfara face ongoing high food prices. Consumers might adjust purchasing patterns toward items showing price drops. Monitor NBS reports for September data to confirm if this downward trend sustains, as month-to-month volatility remains possible.

SOURCE: https://www.channelstv.com/2026/09/15/nigerias-inflation-rate-falls-to-15-39-in-august/