Nigeria's Inflation Unexpectedly Falls in August: Report
Nigeria's Inflation Unexpectedly Falls in August: Report
Nigeria's total rate of inflation eased to 15.39% in August 2026 from 15.43% in July and 23.14% a year earlier, while the Consumer Price Index rose 1.0 point in one month, according to the report provided by the National Bureau of Statistics.
Other key takeaways:
🟠Month-on-month inflation slowed to 0.71% from 1.57% in July, meaning prices are rising at a slower pace;
🟠Urban inflation stood at 15.88% year-on-year, down from 29.73% a year earlier, while the month-on-month rate fell to 0.28% from 1.90% in July;
🟠Rural inflation was 14.23% year-on-year, down from 26.47% in 2025, though the month-on-month rate rose to 1.79% from 0.78% in July;
🟠Food inflation fell to 19.57% year-on-year from 25.30% a year earlier, driven by lower prices for palm oil, vegetables, beef, and other staples.
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