Nigeria Inflation Rate
& Consumer Price Index (CPI)
Official NBS Consumer Price Index (CPI) data for January 2026. See how fast prices are rising, what's driving inflation, and how your state compares.
Headline Inflation
15.1%
January 2026 (YoY)
Change from Dec
-0.05pp
Falling fast
Food Inflation
6.02%
January 2026 (YoY)
2024 Peak
34.8%
Dec 24 — highest point
CPI Trend — Jan 2024 to Jan 2026
Headline CPI (All Items) Food Inflation
Note: NBS rebased CPI to 2024=100 in January 2025, which caused an apparent drop. The underlying trend is one of consistent deceleration since mid-2024.
Month-on-Month CPI Change (%)
How much prices moved each month vs the previous month. Negative = prices actually fell.
Editor's Insight
Our take on what this CPI data means for everyday Nigerians
The headline number dropped — but don't celebrate yet
Headline inflation fell to 15.10% in January 2026, down from 34.80% at the end of 2024. That sounds dramatic, but there's a catch: the NBS rebased its CPI to 2024=100 in January 2025, which mechanically lowered the reported numbers. The level of prices hasn't fallen — things are still more expensive than a year ago. Inflation just isn't rising as fast.
Food inflation is the real good news
Food inflation dropped to just 6.02% year-on-year in January 2026 — the lowest in years. This tracks with the January 2026 food prices data: beans down 40%+, garri down 39%, onions cheaper. The harvest season and naira stabilisation are doing real work here.
Non-food costs are still biting hard
Housing, transport, and services inflation remain elevated. This explains why many Nigerians don't "feel" the drop — rent hasn't fallen, school fees haven't been cut, transport costs haven't followed food prices down. The relief so far is mostly at the market, not in your monthly bills.
The trend is firmly downward
Month-on-month, prices actually fell 2.88% in January 2026 — the second consecutive monthly drop. This is the clearest sign yet that the inflation emergency of 2023–2024 is cooling. If this continues, headline inflation could reach single digits by Q4 2026. The CBN's tightening cycle appears to be working.
CPI by State — January 2026
| # | State | YoY Inflation | MoM Change | Pressure Level |
|---|---|---|---|---|
| 1 | Benue | 22.48% | -1.87% | Very High |
| 2 | Kogi | 20.98% | -6.03% | Very High |
| 3 | Abuja | 19.25% | -4.52% | High |
| 4 | Adamawa | 19.19% | -2.71% | High |
| 5 | Yobe | 19.15% | -4.54% | High |
| 6 | Osun | 18.13% | -1.11% | High |
| 7 | Nasarawa | 17.29% | -5.10% | High |
| 8 | Anambra | 17.27% | -0.54% | High |
| 9 | Oyo | 16.91% | -1.46% | Moderate |
| 10 | Niger | 16.86% | -4.20% | Moderate |
| 11 | Kwara | 16.75% | -0.78% | Moderate |
| 12 | Sokoto | 16.47% | -3.66% | Moderate |
| 13 | Ekiti | 16.43% | -3.00% | Moderate |
| 14 | Akwa Ibom | 16.41% | -0.87% | Moderate |
| 15 | Lagos | 16.23% | -3.00% | Moderate |
| 16 | Taraba | 16.23% | -0.93% | Moderate |
| 17 | Kebbi | 16.19% | -5.72% | Moderate |
| 18 | Bayelsa | 15.95% | -5.96% | Moderate |
| 19 | Plateau | 15.80% | +0.14% | Moderate |
| 20 | Bauchi | 15.01% | -1.75% | Moderate |
| 21 | Borno | 15.00% | -2.62% | Moderate |
| 22 | Zamfara | 14.75% | -1.30% | Moderate |
| 23 | Cross River | 14.61% | -6.34% | Moderate |
| 24 | Rivers | 14.16% | -0.83% | Moderate |
| 25 | Kano | 13.94% | -3.04% | Easing |
| 26 | Jigawa | 13.90% | -2.38% | Easing |
| 27 | Edo | 13.74% | -4.20% | Easing |
| 28 | Gombe | 13.74% | -3.20% | Easing |
| 29 | Delta | 13.58% | -2.78% | Easing |
| 30 | Ondo | 13.20% | +1.93% | Easing |
| 31 | Ogun | 12.86% | -6.30% | Easing |
| 32 | Abia | 11.67% | -4.68% | Easing |
| 33 | Kaduna | 11.41% | +0.67% | Easing |
| 34 | Enugu | 11.04% | -5.22% | Easing |
| 35 | Imo | 10.61% | +1.93% | Easing |
| 36 | Katsina | 8.94% | -4.39% | Easing |
| 37 | Ebonyi | 8.72% | -3.49% | Easing |
Note: State indices use different market baskets and cannot be directly compared to each other. Use for within-state trend analysis only.
About this data
Data sourced from the National Bureau of Statistics (NBS) Consumer Price Index (CPI) Report for January 2026, published February 2026. NBS rebased the CPI to 2024=100 effective January 2025. All inflation figures are year-on-year percentage changes unless stated otherwise. Figures.ng republishes official NBS data for every Nigerian.