The inflation rate fell to 14.63 per cent in September 2026 from 15.39 per cent in August 2026.
The National Bureau of Statistics, (NBS), Statistician General of the Federation, Prince Adeyemi Adeniran, broke the news in a press release in Abuja on Thursday.
He said, “Headline Inflation Rate: On a year-on-year basis, the headline inflation rate for September 2026 stood at 14.63 per cent, when compared to 15.39 per cent and 20.98 per cent recorded in August 2026 and September 2025.”
According to him, over the period under review, the food inflation rate was 19.59 per cent year on year, lower than 20.16 per cent in September 2025.
He added that, month on month, food inflation in September 2026 was -1.55 per cent, down 2.57 per cent points from August 2026 (1.02 per cent).
He attributed the crash in food inflation
to the rate of change in the average prices of Guinea corn flour, sold loose, Maize (Corn) Flour White (sold loose), Rice Local, short-Grained, Egg, Onion Fresh, Palm oil, Green Beans Fresh, Irish Potatoes, Okra, Tomatoes Fresh, Green Peas (Dried), Plantain, among others.
The NBS boss said the urban inflation rate in September 2026 was 15.64 per cent year on year.
On a month-on-month basis, he said the urban inflation rate was 0.53 per cent in September 2026, up 0.25 per cent from August 2026 (0.28 per cent).
He said the rural inflation rate in September 2026 was 12.46 per cent year on year.
Adeniran added that, on a month-on-month basis, rural inflation in September 2026 was -0.89 per cent, down 2.68 per cent from August 2026 (1.79 per cent).
NBS said the All Items Inflation rate in September 2026, on a Year-on-Year basis, was highest in Imo (30.04 per cent), Enugu (22.38 per cent) and Niger (22.05 per cent), while Taraba (1.78 per cent), Bauchi (2.84 per cent) and Adamawa (3.66 per cent) recorded the lowest rise in Headline inflation on a Year-on-Year basis.
On a Month-on-Month basis, he said, however, September 2026 recorded the highest increases in Imo (8.64 per cent), Kaduna (4.46 per cent), and Sokoto (3.01 per cent), while Adamawa (-6.10 per cent), Bauchi (-5.31 per cent), and Kano (-4.49 per cent) recorded the lowest rise in the Month-on-Month inflation.
Adeniran stressed that, in September 2026, food inflation on a Year-on-Year basis was highest in Lagos (34.40 per cent), Imo (33.79 per cent), and Ondo (31.49 per cent), while Taraba (-7.47 per cent), Yobe (-0.37 per cent) and Borno (2.18 per cent) recorded the slowest rise in Food inflation on a Year-on-Year basis.
NBS said on a Month-on-Month basis, however, September 2026 Food inflation was highest in Imo (5.15 per cent), Ondo (4.46 per cent), and Oyo (3.82 per cent), while Adamawa (-13.84 per cent), Kano (-11.01 per cent), and Bauchi (-10.21 per cent) recorded the slowest rise in food inflation on a Month-on-Month basis.
