The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate dropped to 15.39 per cent in August.

The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for August, released in Abuja on Tuesday.

The report said the August headline inflation rate fell by 0.04 per cent to 15.39 per cent, down from 15.43 per cent in July.

The report also said that on a month-on-month basis, headline inflation in August was 0.71 per cent, down from 1.57 per cent in July.

“This means that in August,  the rate of increase in the average price level was lower than the rate of increase in the average price level in July,” the NBS said.

It said that on a year-on-year basis, the headline inflation rate in August stood at 15.39 per cent, compared to 23.14 per cent in August 2025.

It said the three major contributors to headline inflation year-on-year were food and non-alcoholic beverages at 6.16 per cent, restaurants and accommodation services at 1.99 per cent, and transport at 1.64 per cent.

The report said the smallest contributors were recreation, sports, and culture at 0.05 per cent; alcoholic beverages, tobacco, and narcotics at 0.06 per cent; and insurance and financial services at 0.07 per cent.

It said the CPI rose to 146.3 in August, up 1.0 point from 145.3 in July.

The report said the food inflation rate in August was 19.57 per cent year on year, compared with 25.30 per cent in August 2025.

It said that on a month-on-month basis, the food inflation rate in August was 1.02 per cent, down 4.55 per cent from the 5.56 per cent recorded in July.

The NBS attributed the drop in food inflation to the rate of change in the average prices of palm oil, carrots, pepper, onions, cassava flour, beef, yam flour and water yam.

 “Others are melon, fresh ginger, fresh fish, Irish potatoes,  wheat grain, frozen chicken, turkey, meat, yam flour, among others,” it added.

The report said, “All items less farm produce and energy or core inflation, which excludes the prices of volatile agricultural produce and energy,  stood at 13.29 per cent in August on a year-on-year basis.

“This shows a decline of 9.64 per cent when compared to the 22.93 per cent recorded in August 2025.

“On a month-on-month basis, the core inflation rate was -0.06 per cent in August, which decreased   by 0.21 per cent compared to the 0.15 per cent recorded in July.”

The report said the sub-index inflation rate for August, month on month, showed energy at -0.36 per cent compared to -2.39 per cent in July.

It said farm produce stood at 1.35 per cent compared to 4.66 per cent in July, while services stood at 0.12 per cent compared to the 0.49 per cent recorded in July.

Goods stood at 0.45 per cent compared to 1.70 per cent in July, while imported food stood at 0.91 per cent compared to 1.19 per cent in July.

On a year-on-year basis, the urban inflation rate was 15.88 per cent in August.

“On a month-on-month basis, the urban inflation rate was 0.28  per cent, which decreased  by 1.62 per cent compared to July  at 1.90 per cent.”

The report said the rural inflation rate was 14.23 per cent year on year in August.

“On a month-on-month basis, the rural inflation rate was 1.79 per cent, which increased  by 1.01 per cent compared to July at 0.78  per cent.”

On states’ profile analysis, the report showed that in August, the all-items index inflation rate on a year-on-year basis was highest in Lagos at 23.68  per cent, followed by Zamfara at 22.56 per cent and Enugu State at 22.06 per cent.

It said the lowest year-on-year rise in headline inflation was recorded in Sokoto State at 2.11 per cent, followed by Kebbi State at 3.72 per cent and Jigawa at 3.81 per cent.

However, the report said that in August, the month-on-month inflation rate was highest in Rivers at 6.92 per cent, followed by Osun at 5.61 per cent and Kano State at 5.59 per cent.

“Anambra at 8.83 per cent, followed by Bauchi State at -7.13 per cent and Borno at -7.09 per cent recorded a decline in month-on-month inflation.”

The report said that on a year-on-year basis, food inflation was highest in Adamawa at 38.85 per cent, followed by Zamfara at 37.96 per cent, and Bayelsa at 36.20 per cent.

It said Borno recorded the slowest year-on-year rise in food inflation, at -4.04 per cent, followed by Jigawa at -0.23 per cent and Kebbi at 3.47 per cent.

However, it said that on a month-on-month basis, food inflation was highest in Katsina State at 9.48 per cent, followed by Rivers at 8.86 per cent, and Osun at 8.32 per cent.

“Taraba at -12.42 per cent, followed by Borno at -12.15 per cent and Bauchi at -8.88  per cent, recorded a decline in food inflation on a month-on-month basis,” it said.

 (NAN)