Nigeria’s Inflation Rate Falls Again

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.

According to reports, the latest figure was contained in the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Tuesday.

The latest inflation rate also represents a significant decline compared with the 23.14 per cent recorded in August 2025, indicating a considerable year-on-year reduction in the pace of price increases.

The NBS stated that the month-on-month inflation rate also slowed considerably in August, dropping to 0.71 per cent from 1.57 per cent recorded in July.

The statistics agency explained that the development meant the average price level increased at a slower pace in August compared with the previous month.

The NBS said, “In August 2026, the Headline inflation rate stood at 15.39%, down from 15.43% in July 2026 and stood at 23.14% in the same month of the preceding year (August 2025).

“Looking at the movement, the August 2026 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 latest inflation data comes amid developments in the downstream petroleum sector, with the Nigerian National Petroleum Company Limited (NNPCL) reportedly increasing the pump price of Premium Motor Spirit, commonly known as petrol.

According to available information, a market survey showed that several NNPCL retail outlets in Abuja and surrounding areas adjusted their petrol prices to between ₦1,395 and ₦1,430 per litre.

The adjustment represents an increase of between ₦50 and ₦80 per litre at affected outlets.

The new prices have reportedly been implemented at NNPCL stations in areas including Airport Junction, Gwarinpa, Kubwa Expressway, Wuse Zone 4 and other parts of Abuja and its environs.