Nigeria’s headline inflation rate eased to 15.1 percent in January 2026, slightly down from 15.15 percent in December 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The modest decline continues a trend of slowing inflation that has been observed over recent months.
The slowdown in inflation was largely driven by a sharp decline in food prices, which are a major component of household spending. On a year-on-year basis, food inflation dropped to 8.89 percent in January 2026, down significantly from 29.63 percent recorded in January 2025 marking one of the steepest decreases in staple food costs in recent years.
Month-on-month figures also showed relief for consumers, with overall inflation falling by 2.88 percent compared to December and food inflation declining by 6.02 percent over the same period.
The NBS attributed the easing pressures largely to reduced average prices of key food items such as water yam, eggs, green peas, groundnut oil, palm oil, maize, beans, beef and cassava.
Despite the welcome moderation, broader price pressures remain elevated compared to historical averages, and analysts say sustained improvements will depend on continued stability in food supply, foreign exchange markets and energy prices.
The latest data offers cautious optimism for Nigerian households, particularly as staple food prices show clearer signs of relief after months of high inflation.
