Nigeria’s headline inflation eased to 14.63% in September 2026, extending a four-month declining trend and reaching its lowest level since the current price series began in January 2025.
The headline improvement was driven by a significant reversal in food prices, which fell month-on-month for the first time in recent memory, providing real relief to household purchasing power.
This report breaks down what actually moved the numbers in September, what the naira’s performance means for the inflation outlook, and what to expect heading into October.
