Inflation fell to 15.39% for August

Headline inflation in August 2026 fell to 15.39 percent from 15.43 percent recorded in the previous month, namely July 2026, according to the National Bureau of Statistics (NBS).

The General Statistician of the Federation, Prince Adeyemi Adeniran, who stated this in a statement on Tuesday said, “On a year-on-year basis, the general inflation rate in August 2026 stood at 15.39 percent. This is lower compared to the 15.43 percent and 23.14 percent recorded in July 2026 and August 2025,” he said.

The NBS boss said the monthly inflation rate in August 2026 was 0.71 percent, representing a decrease of 0.86 percentage points from 1.57 percent recorded in July 2026.

He attributed the decline in inflation to low food inflation in August.

On an annual basis, food inflation reached 19.57 percent in August 2026, lower than 25.30 percent in August 2025.

On a monthly basis, the food inflation rate in August 2026 was 1.02 percent, down from 5.56 percent in July 2026.

According to Adeniran: “This shows that the average food price will increase at a decreasing rate in August 2026.

“This price decrease was mainly due to changes in the average prices of palm oil, carrots, peppers, shallots, cassava flour, beef, sweet potato flour, water yam, melon (egusi), fresh ginger, fresh fish, Irish potatoes, wheat grains, frozen chicken, turkey meat, etc.”

Meanwhile, the annual inflation rate is as follows: agricultural output is 21.52 percent; energy, 4.69 percent; services, 15.38 percent; goods 14.74 percent; and imported food 12.82 percent.

Adeniran said that the urban inflation rate in August 2026 was 15.88 percent year-on-year.

He added that, on a monthly basis, the urban inflation rate was 0.28 percent in August 2026, down 1.62 percentage points from 1.90 percent in July 2026.

He said that the rural inflation rate in August 2026 was 14.23 percent year-on-year.

According to him, on a monthly basis, the rural inflation rate in August 2026 was 1.79 percent, up 1.01 percentage points from 0.78 percent in July 2026.

He said the All Goods inflation rate on a year-on-year basis was highest in Lagos (23.68 per cent), Zamfara (22.56 per cent) and Enugu (22.06 per cent), while Sokoto (2.11 per cent), Kebbi (3.72 per cent) and Jigawa (3.81 per cent) recorded the lowest rise in general inflation.

However, on a monthly basis, Adeniran said August 2026 recorded the highest increases in Rivers (6.92 percent), Osun (5.61 percent) and Kano (5.59 percent), while Anambra (-8.83 percent), Bauchi (-7.13 percent) and Borno (-7.09 percent) recorded the lowest levels.

The NBS boss said year-on-year food inflation was highest in Adamawa (38.85 percent), Zamfara (37.96 percent) and Bayelsa (36.20 percent), while Borno (-4.04 percent), Jigawa (-0.23 percent) and Kebbi (3.47 percent) recorded the lowest inflation rates.

He added that, on a monthly basis, food inflation was highest in Katsina (9.48 percent), Rivers (8.86 percent) and Osun (8.32 percent), while Taraba (-12.42 percent), Borno (-12.15 percent) and Bauchi (-8.88 percent) recorded the lowest inflation rates.