Nigeria’s inflation rate declined slightly to 15.39 per cent in August 2026, down from 15.43 per cent recorded in July.
The National Bureau of Statistics, NBS, disclosed this on Tuesday in its Consumer Price Index, CPI, report for August 2026.
The latest figure represents a 0.04 percentage point decline in the headline inflation rate compared with the previous month.
According to the NBS, the headline inflation rate stood at 23.14 per cent in August 2025, meaning the latest figure also remains significantly lower than the rate recorded a year earlier.
The statistics agency said the movement reflected a slower increase in the average price level during August compared with July.
On a month-on-month basis, the Nigeria inflation rate stood at 0.71 per cent in August. This was 0.86 percentage points lower than the 1.57 per cent recorded in July 2026.
The NBS explained that the August figure meant the average price level increased at a slower pace than it did in the preceding month.
“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),” the agency stated.
It added that the August headline inflation rate decreased by 0.04 per cent compared with the July figure.
The latest data marks another monthly moderation in headline inflation, with the Nigeria inflation rate moving marginally lower despite continued changes in prices across the economy.
The NBS is expected to provide further details on the components and factors behind the August inflation figures in the full report.
The agency also noted that the lower month-on-month figure indicates that the rate of increase in average prices was slower in August than in July.
