Inflation fell to 14.63%: what it means for your prices

Nigeria’s headline inflation rate fell to 14.63 percent in September 2026, down from 15.39 percent in August, according to the National Bureau of Statistics. Month on month, prices rose by only 0.06 percent, compared with 0.71 percent in August.

What does this mean for your business? Inflation tells us how fast prices are rising compared with the same month last year. A lower number does not mean prices have come down. It means they are rising more slowly. Food prices did drop by 1.55 percent from August to September, and the NBS pointed to cheaper eggs, fresh tomatoes, palm oil and plantain. Still, food inflation was 19.59 percent compared with a year ago, so many costs remain high.

Practical takeaway: use this moment to review your price list and supplier quotes. Ask suppliers whether recent price increases can be revisited, and only raise your own prices when your costs truly demand it. Write down your top five costs each month, so you can see your own trend, which may differ from the national figure.

Questions:

Which of your input costs have gone up or come down most in the last two months? Tell us your city and trade.
Have you changed your prices recently, and how did customers react?
What do you do to keep track of your costs?

Source: National Bureau of Statistics September 2026 CPI report, released 15 October 2026, as reported by Voice of Nigeria and Technext24.