Nigeria’s inflation rate declined slightly to 15.10 per cent in January 2026, down from 15.15 per cent recorded in December 2025.
The latest figures are contained in the Consumer Price Index (CPI) report released on Monday by the National Bureau of Statistics (NBS).
According to the report, the 0.05 percentage point decline indicates a continued easing of price pressures at the start of the year, extending the trend of gradual moderation in inflation.
On a year-on-year basis, the inflation rate recorded a significant drop compared to January 2025, when it stood at 27.61 per cent. The current rate of 15.10 per cent represents a decrease of 12.51 percentage points over the same period last year.
The NBS attributed the marginal slowdown to adjustments in its price measurement framework introduced in its previous report. The revised methodology is designed to better reflect prevailing market conditions.
Under the updated system, the bureau now adopts a 12-month reference period, using the average CPI for the 12 months of 2024 as the base year set at 100. Previously, the CPI benchmark was based on a single-month reference period, with December 2024 fixed at 100.
The report also highlighted an easing in food inflation, a major driver of overall consumer prices. Food inflation declined to 8.89 per cent year-on-year in January, compared to 10.84 per cent recorded in December.
The latest data suggests a continued moderation in inflationary pressures, though broader economic indicators will determine the sustainability of the downward trend in the months ahead.
