Nigeria’s headline inflation rate has declined to 14.63 per cent in September 2026, down from 15.39 per cent recorded in August, according to the National Bureau of Statistics.
The Central Bank of Nigeria says its monetary policy decisions are aimed at supporting price stability and improving the transmission of monetary policy across the economy.
CBN Governor Olayemi Cardoso explained that the bank reduced the Monetary Policy Rate from 26.5 per cent to 23 per cent in September.
The governor said the decision followed changes in market interest rates and was intended to improve the effectiveness of monetary policy, rather than signal an abandonment of the bank’s commitment to controlling inflation.
The CBN also reported that Nigeria’s external reserves had risen above 55 billion dollars.
Despite the decline in headline inflation, many Nigerians continue to face pressure from high food prices, transport costs and other living expenses. A slower inflation rate means prices are rising more slowly on average; it does not necessarily mean goods and services have become cheaper.
The CBN says achieving price stability remains a priority as the country pursues sustainable economic growth.
