Nigeria’s headline inflation rate fell for the third consecutive month, dropping marginally to 15.39 per cent in August 2026 from 15.43 per cent in July, according to the National Bureau of Statistics (NBS).

The latest figure represents a 0.04 percentage-point decline and continues the downward trend recorded since June.

The NBS disclosed the figures in its Consumer Price Index (CPI) report for August 2026 released on Tuesday.

The statistics agency attributed the latest moderation partly to a significant slowdown in the core inflation basket, which fell to 13.29 per cent in August from 14.97 per cent in July.

In its report, the NBS said the August headline inflation rate was considerably lower than the 23.14 per cent recorded in August 2025.

On a month-on-month basis, inflation stood at 0.71 per cent in August, compared with 1.57 per cent in July, representing a 0.86 percentage-point decline.

The NBS explained that the lower month-on-month figure indicated that the average price level increased at a slower pace in August than it did in July.

Food Inflation Also Declines

Food inflation also recorded a decline during the month, falling to 19.57 per cent in August from 20.31 per cent in July.

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On a month-on-month basis, food inflation dropped by 4.55 percentage points, indicating a slowdown in the rate at which average food prices increased during the period.

The NBS linked the moderation to movements in the prices of several food items, including 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.

Adamawa Records Highest Food Inflation

At the state level, Adamawa recorded the highest year-on-year food inflation at 38.85 per cent, followed by Zamfara at 37.96 per cent and Bayelsa at 36.20 per cent.

Borno recorded the lowest year-on-year food inflation at -4.04 per cent, followed by Jigawa at -0.23 per cent and Kebbi at 3.47 per cent.

However, the month-on-month figures presented a different picture, with Katsina recording the highest food inflation at 9.48 per cent, followed by Rivers at 8.86 per cent and Osun at 8.32 per cent.

Taraba recorded the sharpest month-on-month decline at -12.42 per cent, followed by Borno at -12.15 per cent and Bauchi at -8.88 per cent.