Economy · Headline inflation · Nigeria
Nigeria’s headline inflation fell to 15.4% y/y in Aug 2026.
15.4% y/y
Aug 2026
Down 0.04 pp from Jul 2026.
Updated 8 Oct 2026
In plain words
15.4% y/y
What it is. Headline inflation tracks the average price of everything in the consumer price index, compared with the same month a year earlier. Because each reading compares two months a year apart, it carries the effect of price rises over the whole year, and a single large monthly jump stays in the figure until it drops out of the comparison. It gives one national average, so a household that spends mostly on food or transport can face a different rate from the headline.
Lower is better. Lower is better because slower price rises leave wages and savings buying more, and make it easier for households and firms to plan. The latest figure, for Aug 2026, is 15.4% y/y. A year earlier, in Aug 2025, it was 23.1% y/y, so the rate has fallen by 7.8 percentage points over the year. Since Sep 2024 the range runs from a low of 15.1% y/y in Feb 2026 to a high of 34.8% y/y in Dec 2024. The latest reading sits just above the bottom of that range and far below the peak.
Why it matters. At 15.4% y/y, goods and services in Nigeria cost on average that much more than in Aug 2025, so wages and savings still lose purchasing power, though more slowly than a year earlier. Firms face input and wage costs that are still climbing, which makes pricing and budgeting harder. The Feb 2026 low of 15.1% y/y is the level to compare future readings against.
| Period | Headline inflation · Nigeria |
|---|---|
| Sep 2024 | 32.7% y/y |
| Oct 2024 | 33.9% y/y |
| Nov 2024 | 34.6% y/y |
| Dec 2024 | 34.8% y/y |
| Jan 2025 | 27.6% y/y |
| Feb 2025 | 26.3% y/y |
| Mar 2025 | 27.3% y/y |
| Apr 2025 | 26.8% y/y |
| May 2025 | 26.1% y/y |
| Jun 2025 | 25.3% y/y |
| Jul 2025 | 24.9% y/y |
| Aug 2025 | 23.1% y/y |
| Sep 2025 | 21% y/y |
| Oct 2025 | 19% y/y |
| Nov 2025 | 17.4% y/y |
| Dec 2025 | 15.2% y/y |
| Jan 2026 | 15.1% y/y |
| Feb 2026 | 15.1% y/y |
| Mar 2026 | 15.4% y/y |
| Apr 2026 | 15.7% y/y |
| May 2026 | 15.9% y/y |
| Jun 2026 | 15.9% y/y |
| Jul 2026 | 15.4% y/y |
| Aug 2026 | 15.4% y/y |
Source: International Monetary Fund, Consumer Price Index (CPI) · Licence: IMF Terms of Use
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Strata-AF™ Data, Headline inflation, Nigeria, Aug 2026; source International Monetary Fund, Consumer Price Index (CPI), retrieved 8 Oct 2026; https://data.strata-af.com/economy/inflation/nigeria
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Methodology
Consumer price index, all items, change on the same month a year earlier. Unit: % y/y.
Source: International Monetary Fund, Consumer Price Index (CPI) dataset, used under the IMF Terms of Use. Published monthly; the IMF's own source notes apply.