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Data  · Economy

Food inflation fell below headline inflation in 2025, then climbed back above it

Headline and food inflation in Nigeria each month from January 2023 to September 2026, from the National Bureau of Statistics (NBS).

The Public Interest ·

Headline inflation peaked at 34.80 percent in December 2024 and food inflation at 40.87 percent in June 2024. In September 2026, the latest month published, headline inflation was 14.63 percent and food inflation 19.59 percent.

Headline and food inflation, year on yearPercent
HeadlineFood0%10%20%30%40%50%New CPI baseJan 2023, Headline: 21.82%Feb 2023, Headline: 21.91%Mar 2023, Headline: 22.04%Apr 2023, Headline: 22.22%May 2023, Headline: 22.41%Jun 2023, Headline: 22.79%Jul 2023, Headline: 24.08%Aug 2023, Headline: 25.80%Sep 2023, Headline: 26.72%Oct 2023, Headline: 27.33%Nov 2023, Headline: 28.20%Dec 2023, Headline: 28.92%Jan 2024, Headline: 29.90%Feb 2024, Headline: 31.70%Mar 2024, Headline: 33.20%Apr 2024, Headline: 33.69%May 2024, Headline: 33.95%Jun 2024, Headline: 34.19%Jul 2024, Headline: 33.40%Aug 2024, Headline: 32.15%Sep 2024, Headline: 32.70%Oct 2024, Headline: 33.88%Nov 2024, Headline: 34.60%Dec 2024, Headline: 34.80%Jan 2025, Headline: 27.61%Feb 2025, Headline: 26.27%Mar 2025, Headline: 27.35%Apr 2025, Headline: 26.82%May 2025, Headline: 26.06%Jun 2025, Headline: 25.29%Jul 2025, Headline: 24.94%Aug 2025, Headline: 23.14%Sep 2025, Headline: 20.98%Oct 2025, Headline: 18.97%Nov 2025, Headline: 17.33%Dec 2025, Headline: 15.15%Jan 2026, Headline: 15.10%Feb 2026, Headline: 15.06%Mar 2026, Headline: 15.38%Apr 2026, Headline: 15.69%May 2026, Headline: 15.93%Jun 2026, Headline: 15.91%Jul 2026, Headline: 15.43%Aug 2026, Headline: 15.39%Sep 2026, Headline: 14.63%Jan 2023, Food: 24.32%Feb 2023, Food: 24.35%Mar 2023, Food: 24.45%Apr 2023, Food: 24.61%May 2023, Food: 24.82%Jun 2023, Food: 25.25%Jul 2023, Food: 26.98%Aug 2023, Food: 29.34%Sep 2023, Food: 30.64%Oct 2023, Food: 31.52%Nov 2023, Food: 32.84%Dec 2023, Food: 33.93%Jan 2024, Food: 35.41%Feb 2024, Food: 37.92%Mar 2024, Food: 40.01%Apr 2024, Food: 40.53%May 2024, Food: 40.66%Jun 2024, Food: 40.87%Jul 2024, Food: 39.53%Aug 2024, Food: 37.52%Sep 2024, Food: 37.77%Oct 2024, Food: 39.16%Nov 2024, Food: 39.93%Dec 2024, Food: 39.84%Jan 2025, Food: 29.63%Feb 2025, Food: 26.98%Mar 2025, Food: 25.22%Apr 2025, Food: 24.68%May 2025, Food: 24.55%Jun 2025, Food: 25.41%Jul 2025, Food: 26.20%Aug 2025, Food: 25.30%Sep 2025, Food: 20.16%Oct 2025, Food: 16.30%Nov 2025, Food: 14.21%Dec 2025, Food: 10.84%Jan 2026, Food: 8.89%Feb 2026, Food: 12.12%Mar 2026, Food: 14.31%Apr 2026, Food: 16.06%May 2026, Food: 16.96%Jun 2026, Food: 17.52%Jul 2026, Food: 20.31%Aug 2026, Food: 19.57%Sep 2026, Food: 19.59%19.59%14.63%Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Mar 2026Sep 2026 HeadlineFood0%10%20%30%40%50%New CPI baseJan 2023, Headline: 21.82%Feb 2023, Headline: 21.91%Mar 2023, Headline: 22.04%Apr 2023, Headline: 22.22%May 2023, Headline: 22.41%Jun 2023, Headline: 22.79%Jul 2023, Headline: 24.08%Aug 2023, Headline: 25.80%Sep 2023, Headline: 26.72%Oct 2023, Headline: 27.33%Nov 2023, Headline: 28.20%Dec 2023, Headline: 28.92%Jan 2024, Headline: 29.90%Feb 2024, Headline: 31.70%Mar 2024, Headline: 33.20%Apr 2024, Headline: 33.69%May 2024, Headline: 33.95%Jun 2024, Headline: 34.19%Jul 2024, Headline: 33.40%Aug 2024, Headline: 32.15%Sep 2024, Headline: 32.70%Oct 2024, Headline: 33.88%Nov 2024, Headline: 34.60%Dec 2024, Headline: 34.80%Jan 2025, Headline: 27.61%Feb 2025, Headline: 26.27%Mar 2025, Headline: 27.35%Apr 2025, Headline: 26.82%May 2025, Headline: 26.06%Jun 2025, Headline: 25.29%Jul 2025, Headline: 24.94%Aug 2025, Headline: 23.14%Sep 2025, Headline: 20.98%Oct 2025, Headline: 18.97%Nov 2025, Headline: 17.33%Dec 2025, Headline: 15.15%Jan 2026, Headline: 15.10%Feb 2026, Headline: 15.06%Mar 2026, Headline: 15.38%Apr 2026, Headline: 15.69%May 2026, Headline: 15.93%Jun 2026, Headline: 15.91%Jul 2026, Headline: 15.43%Aug 2026, Headline: 15.39%Sep 2026, Headline: 14.63%Jan 2023, Food: 24.32%Feb 2023, Food: 24.35%Mar 2023, Food: 24.45%Apr 2023, Food: 24.61%May 2023, Food: 24.82%Jun 2023, Food: 25.25%Jul 2023, Food: 26.98%Aug 2023, Food: 29.34%Sep 2023, Food: 30.64%Oct 2023, Food: 31.52%Nov 2023, Food: 32.84%Dec 2023, Food: 33.93%Jan 2024, Food: 35.41%Feb 2024, Food: 37.92%Mar 2024, Food: 40.01%Apr 2024, Food: 40.53%May 2024, Food: 40.66%Jun 2024, Food: 40.87%Jul 2024, Food: 39.53%Aug 2024, Food: 37.52%Sep 2024, Food: 37.77%Oct 2024, Food: 39.16%Nov 2024, Food: 39.93%Dec 2024, Food: 39.84%Jan 2025, Food: 29.63%Feb 2025, Food: 26.98%Mar 2025, Food: 25.22%Apr 2025, Food: 24.68%May 2025, Food: 24.55%Jun 2025, Food: 25.41%Jul 2025, Food: 26.20%Aug 2025, Food: 25.30%Sep 2025, Food: 20.16%Oct 2025, Food: 16.30%Nov 2025, Food: 14.21%Dec 2025, Food: 10.84%Jan 2026, Food: 8.89%Feb 2026, Food: 12.12%Mar 2026, Food: 14.31%Apr 2026, Food: 16.06%May 2026, Food: 16.96%Jun 2026, Food: 17.52%Jul 2026, Food: 20.31%Aug 2026, Food: 19.57%Sep 2026, Food: 19.59%19.59%14.63%Sep 2023Sep 2024Sep 2025Sep 2026

Source: National Bureau of Statistics (NBS), Consumer Price Index reports, January 2023 to September 2026. The NBS rebased the Consumer Price Index from January 2025, with 2024 as the new base year, so rates from 2025 are not directly comparable with earlier ones. The 2025 rates shown are the revised figures published by the NBS in January 2026, which are higher than those first released each month.

Show the figures
MonthHeadlineFood
Jan 202321.82%24.32%
Feb 202321.91%24.35%
Mar 202322.04%24.45%
Apr 202322.22%24.61%
May 202322.41%24.82%
Jun 202322.79%25.25%
Jul 202324.08%26.98%
Aug 202325.80%29.34%
Sep 202326.72%30.64%
Oct 202327.33%31.52%
Nov 202328.20%32.84%
Dec 202328.92%33.93%
Jan 202429.90%35.41%
Feb 202431.70%37.92%
Mar 202433.20%40.01%
Apr 202433.69%40.53%
May 202433.95%40.66%
Jun 202434.19%40.87%
Jul 202433.40%39.53%
Aug 202432.15%37.52%
Sep 202432.70%37.77%
Oct 202433.88%39.16%
Nov 202434.60%39.93%
Dec 202434.80%39.84%
Jan 202527.61%29.63%
Feb 202526.27%26.98%
Mar 202527.35%25.22%
Apr 202526.82%24.68%
May 202526.06%24.55%
Jun 202525.29%25.41%
Jul 202524.94%26.20%
Aug 202523.14%25.30%
Sep 202520.98%20.16%
Oct 202518.97%16.30%
Nov 202517.33%14.21%
Dec 202515.15%10.84%
Jan 202615.10%8.89%
Feb 202615.06%12.12%
Mar 202615.38%14.31%
Apr 202615.69%16.06%
May 202615.93%16.96%
Jun 202615.91%17.52%
Jul 202615.43%20.31%
Aug 202615.39%19.57%
Sep 202614.63%19.59%
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The fall in early 2025 reflects both slowing prices and the new base year, which the NBS introduced in January 2025. In January 2026 the NBS revised its 2025 figures upward, and those revised figures are shown here. Food inflation dropped to 8.89 percent in January 2026 and has risen every month since except August.

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