Nigeria’s August 2026 Inflation Rate Slows to 15.39%

By Aduragbemi Omiyale

The National Bureau of Statistics (NBS) on Tuesday disclosed that Nigeria’s August 2026 inflation rate slowed marginally by 0.04 per cent to 15.39 per cent from 15.43 per cent in July 2026, and was also lower than the 23.14 per cent recorded in the same period of 2025.

In the report analysed by Business Post, the stats office disclosed that on a month-on-month basis, the headline inflation rate last month stood at 0.71 per cent versus 1.57 per cent in July 2026.

It was observed that the average prices of goods and services in the country moderated in August amid a slowdown in the food inflation rate to 19.57 per cent from 20.31 per cent.

Data showed that the decline in food inflation was due 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.

It was also revealed that in the period under review, urban inflation was 15.88 per cent in August on a year-on-year basis, and on a month-on-month basis, it shrank to 0.28 per cent from 1.90 per cent in July 2026,

As for the rural inflation rate in August 2026, it was 14.23 per cent on a year-on-year basis, and on a month-on-month basis, it stood at 1.79 per cent versus 0.78 per cent in the preceding month.