Nigeria’s headline inflation rate declined to 15.10 percent in January 2026, according to the National Bureau of Statistics (NBS).
Grassroots Parrot reports that in its latest monthly inflation report, the Bureau said the rate eased slightly from 15.15 percent in December 2025, representing a 0.05 percentage point decrease.
On a year-on-year basis, inflation fell sharply by 12.51 percentage points, compared to 27.61 percent recorded in January 2025, indicating a significant moderation in price pressures over the past year.
Month-on-month, the headline inflation rate stood at -2.88 percent in January 2026, a drop of 3.42 percentage points from 0.54 percent recorded in December 2025.
This suggests that the pace of increase in average prices slowed considerably in January compared to the previous month.
At the divisional level, the major contributors to headline inflation were food and Non-Alcoholic Beverages – 6.04%, restaurants and Accommodation Services – 1.95%, and transport – 1.61%, while the least contributors were: recreation, Sport and Culture – 0.05%, alcoholic Beverages, Tobacco and Narcotics – 0.06% and insurance and Financial Services – 0.07%.
Food inflation stood at 8.89 percent year-on-year. On a month-on-month basis, food inflation declined to -6.02 percent in January 2026, down by 5.66 percentage points from -0.36 percent in December 2025.
The NBS attributed the decline to reduced average prices of food items such as water yam, eggs, green peas, groundnut oil, soya beans, palm oil, maize, guinea corn, beans, beef, egusi, cassava, and cowpeas.
Meanwhile, Core Inflation, which excludes volatile agricultural produce and energy prices, stood at 17.72 percent year-on-year in January 2026.
On a month-on-month basis, core inflation fell to -1.69 percent, down from 0.58 percent in December 2025, reflecting further easing in underlying price pressures.