Inflation Eases Marginally To 15.1% In January

Nigeria’s headline inflation rate eased to 15.10 per cent in January 2026, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday showed.

The CPI declined to 127.4 in January following the completion of the rebasing exercise, which adopted 2024 as the new base year and 2023 as the weight reference period.

The year-on-year headline inflation rate fell marginally from 15.15 per cent in December 2025 and significantly from 27.61 per cent recorded in January 2025, while the month-on-month rate stood at -2.88 per cent, compared to 0.54 per cent in December.

The bureau said food inflation moderated in the review month, recording 8.89 per cent year-on-year, while month-on-month food inflation stood at -6.02 per cent, reflecting notable declines in the prices of items such as yam, eggs, vegetable oil, maize, beans and beef.

Core inflation, which excludes volatile agricultural produce and energy, stood at 17.72 per cent year-on-year, with a month-on-month rate of -1.69 per cent. At the divisional level, food and non-alcoholic beverages and restaurants.

Urban inflation stood at 15.36 per cent year-on-year in January, with a month-on-month decline of -2.72 per cent, while rural inflation was 14.44 per cent year-on-year and -3.29 per cent month-on-month.