- Safiu Kehinde
Nigeria has recorded a drop in headline inflation rate from 15.43 percent to 15.39 percent in August 2026.
This was announced in the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report released on Tuesday.
According to the report, the headline inflation rate showed a decrease of 0.04% compared to the July 2026 Headline inflation rate.
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.” The bureau said.
Meanwhile, the NBS said the food inflation rate in August 2026 was 19.57 percent on a year-on-year basis.
This, according to the report, 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%)
“This shows that the average prices of food items are increasing at a decreasing rate in August 2026.” The report read.
NBS 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”.
