Nigeria’s Inflation Rate Records Fresh Decline

Nigeria’s headline inflation rate dropped slightly to 15.39 per cent in August 2026, showing a 0.04 percentage point decline from the 15.43 per cent recorded in July.

Naija News reports that the latest figure was contained in the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Tuesday.

According to the NBS, the August inflation rate was also significantly lower than the 23.14 per cent recorded in August 2025.

The statistics agency said the month-on-month inflation rate also slowed in August, falling to 0.71 per cent from 1.57 per cent in July.

NBS said: “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).

“Looking at the movement, the August 2026 Headline inflation rate showed a decrease of 0.04% compared to the July 2026 Headline inflation rate.

“On a month-on-month basis, the Headline inflation rate in August 2026 was 0.71%, which was 0.86% lower than the rate recorded in July 2026 (1.57%).

“This means that in August 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in July 2026.”

In other news, the Nigerian National Petroleum Company Limited (NNPCL) on Tuesday increased the pump price of Premium Motor Spirit (PMS), also known as petrol.

According to a market survey by Daily Post, the majority of NNPCL retail outlets in Abuja and its environs had increased their petrol pump price to between ₦1,395 and ₦1,430 per litre.

This means that the state-owned oil firm adjusted its petrol price upward by between ₦50 and ₦80 per litre.

The new prices have been implemented at NNPCL outlets in Airport Junction, Gwarinpa, Kubwa Expressway, Wuse Zone 4 and other parts of the nation’s capital and its environs.