October 15, 2026/Cordros Report
Nigeria’s headline inflation moderated by 76bps to 14.63% y/y in September (August: 15.39% y/y). Likewise, on a month-on-month basis, growth in consumer prices slowed by 65bps to 0.06%, compared with 0.71% m/m recorded in August.
Disaggregating the data, food inflation increased by 2bps to 19.59% y/y in September (August: 19.57% y/y). On a month-on-month basis, the food index declined by 1.57% in September (August: +1.02% m/m), reflecting lower price increases of Guinea corn flour, sold loose, Maize (Corn) Flour White (sold loose), Rice Local, short-Grained, Egg, Onion Fresh, Palm oil, Green Beans Fresh, Irish Potatoe, Okra, Tomatoes Fresh, Green Peas (Dried), Plantain, etc.
Elsewhere, core inflation (all items excluding farm produce and energy) eased by 34bps to 12.95% y/y in September (August: 13.29% y/y). On a month-on-month basis, the core index rose by 1.11% (August: -0.06% m/m).