Nigeria’s headline inflation rate eased to 15.10% in January 2026, relative to the 15.15% recorded in December 2025.
This was contained in the Consumer Price Index (CPI) Report released by the National Bureau of Statistics (NBS) released on Monday.
The report shows that the January 2026 Headline inflation rate decreased of 0.05% compared to the December 2025 Headline inflation rate.
On a year-on-year basis, the Headline inflation rate was 12.51% lower than the rate recorded in January 2025 (27.61%).
This shows that the Headline inflation rate (year-on-year basis) decreased in January 2026 compared to the same month in the preceding year (i.e., January 2025).
On a month-on-month basis, the Headline inflation rate in January 2026 was -2.88%, which was 3.42% lower than the rate recorded in December 2025 (0.54%).
This means that in January 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in December 2025.
URBAN INFLATION
On a year-on-year basis, in January 2026, the Urban inflation rate was 15.36%, which was 14.09% points lower compared to the 29.45% recorded in January 2025.
On a month-on-month basis, the Ur ban inflation rate was -2.72% in January 2026, down by 3.71% compared to December 2025 (0.99%).
The corresponding twelve-month average for the Urban inflation rate was 22.30% in January 2026. This was 3.42% points higher compared to the 18.88% reported in January 2025.
RURAL INFLATION
The Rural inflation rate in January 2026 was 14.44% on a year-on-year basis. This was 10.60% points lower compared to the 25.04% recorded in January 2025.
On a month-on-month basis, the Rural inflation rate in January 2026 was -3.29%, down by 2.74% compared to December 2025 (-0.55%).
The corresponding twelve-month average for the Rural inflation rate in January 2026 was 21.03%. This was 9.76% points lower compared to the 30.79% recorded in January 2025.
FOOD INFLATION
The Food inflation rate in January 2026 was 8.89% on a year-on-year basis. This was 20.73% points lower compared to the rate recorded in January 2025 (29.63%).
On a month-on-month basis, the Food inflation rate in January 2026 was -6.02%, down by 5.66% compared to December 2025 (-0.36%).
The decrease can be attributed to the rate of decrease in the average prices of Water Yam, Eggs, Green Peas, Groundnut Oil, Soya Beans, Palm Oil, Maize (Corn) Grains, Guinea Corn, Beans, Beef Meat, Melon (Egusi) Unshelled, Cassava Tuber, Cow Peas (White) etc.
The average annual rate of Food inflation for the twelve months ending January 2026 over the previous twelve-month average was 20.29%, which was 18.18% points lower compared with the average annual rate of change recorded in January 2025 (38.47%).
CORE INFLATION
The Core inflation, which excludes the prices of vola tile agricultural produces and energy, stood at 17.72% in January 2026 on a year-on-year basis; a decline of 7.55% when compared to the 25.27% recorded in January 2025.
On a month-on-month ba sis, the Core Inflation rate was -1.69% in January 2026, down by 2.26% compared to December 2025 (0.58%).
The average twelve-month annual inflation rate was 22.84% for the twelve months ending January 2026, which was 4.40% points lower than the 27.24% recorded in January 2025.
