By Abiodun Folarin
WorldStage– The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate declined to 14.63 per cent in September 2026 from 15.39 per cent in August.
NBS in it lastest Consumer Price Index (CPI) data, report on Thursday, said food and non-alcoholic beverages remaining the largest contributor to the inflation rate, according to the latest Consumer Price Index (CPI) data.
The report shows that September inflation rate was 6.35 percentage points lower than the 20.98 per cent recorded in September 2025, indicating a significant moderation in the pace of price increases over the 12-month period.
“On a month-on-month basis, headline inflation fell to 0.06 per cent in September from 0.71 per cent in August, suggesting that the average price level increased at a much slower pace during the period,”
The Consumer Price Index, which measures changes in the prices of goods and services, however, rose marginally to 146.38 in September from 146.30 in the preceding month.
A breakdown of the contributions to headline inflation showed that food and non-alcoholic beverages accounted for the largest share at 5.85 percentage points, significantly higher than other divisions.
Restaurants and accommodation services followed with 1.89 percentage points, while transport contributed 1.56 points. Fuels accounted for 1.23 points, while education services and health contributed 0.91 and 0.89 points, respectively.
Clothing and footwear contributed 0.74 percentage points, while information and communication, as well as personal care, social protection and miscellaneous goods and services, each accounted for 0.48 points.
Household maintenance contributed 0.43 percentage points, while insurance and financial services accounted for 0.07 points. Alcoholic beverages, tobacco and narcotics, as well as recreation, sport and culture, each contributed 0.05 points.
The figures indicate that although inflationary pressure moderated in September, food and related consumer spending categories continued to exert significant influence on the overall price level, underscoring the importance of food prices in Nigeria’s inflation outlook.
