Nigeria’s Inflation Falls to 14.63%, but Food Prices Remain Up 19.59%

Nigeria’s headline inflation rate fell to 14.63% in September, down from 15.39% in August, according to the National Bureau of Statistics. This marks the fourth consecutive monthly decline and is below the 20.98% recorded a year earlier. Prices rose by 0.06% month-on-month, compared with 0.71% in August. However, food inflation remains high at 19.59% year-on-year, despite food prices falling 1.55% from August. Core inflation rose by 1.11% during the month, while urban inflation stood at 15.64%, compared with 12.46% in rural areas. In other developments, the Nigeria Labour Congress says the ₦70,000 minimum wage should already be reviewed, while the Federal Government maintains that a review is due in June 2027. Health authorities also say most children affected by recent diphtheria outbreaks had not completed their vaccine doses.

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