Inflation fell to 14.63% in September. Are you feeling it in your business?

Nigeria’s headline inflation rate dropped to 14.63% in September 2026, down from 15.39% in August, according to the National Bureau of Statistics. A year ago, in September 2025, the rate was 20.98%.

What does this mean for a business owner? It does not mean prices have fallen. It means prices are rising more slowly than before. Month on month, prices rose by just 0.06% in September, compared with 0.71% in August. Food inflation is still high, at 19.59% year on year, so many traders and food businesses may still feel the pressure on stock costs.

One practical takeaway: look at your last three supplier invoices and compare them with three months ago. Knowing which costs have really changed helps you decide when to adjust your own prices and when to hold them.

Questions for members:
Have your supplier or stock prices changed in the last three months? Which items moved most?
Which part of your costs is hurting you most right now: stock, transport, rent or power?
Have you changed your own prices recently? How did your customers react?

Source: National Bureau of Statistics CPI report for September 2026, released 15 October 2026, as reported by Gazette NG, Legit.ng and BusinessPost.