Nigeria's headline inflation eased to 15.39% year-on-year in August 2026 from 15.43% in July, according to the National Bureau of Statistics, while food inflation fell to 19.57% from 20.31%. Because the NBS rebased its consumer price index, the lower rate may partly reflect the new basket and base effects rather than genuine price relief. Food and fuel remain the main pressure points, with petrol subsidy removal raising transport costs and a weaker naira raising the cost of imported inputs. The Central Bank of Nigeria, led by Governor Olayemi Cardoso, cut its policy rate to 23% in September 2026, while the market forecast September inflation at 15.5%. For US investors in Nigerian bonds and Eurobonds, the article says whether the rate cut holds, along with currency and inflation risks, will determine dollar returns.
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- Nigeria : Inflation cools to 14 . 63 % as food prices fall in September
Nigeria's headline inflation eased to 14.63% year-on-year in September 2026, down from 15.39% in August and 20.98% in September 2025, according to the National Bureau of Statistics (NBS) Consumer Price Index report. The 76-basis-point drop beat the 15.19% forecast by many analysts, and prices rose just 0.06% month-on-month, versus 0.71% in August. Food prices fell 1.55% month-on-month and were the main driver, although annual food inflation edged up to 19.59%; core inflation eased to 12.95% y/y, but the core index rose 1.11% m/m. The Central Bank of Nigeria had cut its Monetary Policy Rate by 350 basis points to 23.00% at its September meeting, and Cowry Research said there is room for further easing, but liquidity, exchange-rate stability and inflation expectations need close monitoring.
- Nigeria September Inflation Falls to 14.63%
Nigeria's annual inflation slowed to 14.63% in September, from 15.39% in August and 20.98% a year earlier, according to the National Bureau of Statistics released on Thursday. Prices rose just 0.06% from August, while food prices fell 1.55% in the month and food inflation stood at 19.59%. Core prices, however, rose 1.11% in the month after a 0.06% fall in August, which the article describes as pressure outside food and fuel. The central bank cut its benchmark rate to 23% from 26.5% on 22 September, and its next meeting is on 23 and 24 November.
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