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From Isaac Anumihe, Abuja
The National Bureau of Statistics (NBS) has announced that the January inflation rate declined to 15.10 per cent, down from 15.15 per cent recorded in December 2025. This is as food inflation stood at 8.89 per cent in January 2026.
However, looking at the movement, the January 2026 headline inflation rate showed a decrease of 0.05 percentage points compared to the December 2025 headline inflation rate.
On a year-on-year basis, the headline inflation rate was 12.51 percentage points lower than the rate recorded in January 2025 (27.61 per cent).
This shows that the headline inflation rate (year-on-year) decreased in January 2026 compared to the same month in the preceding year (i.e., January 2025).
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On a month-on-month basis, the headline inflation rate in January 2026 was -2.88 per cent, which was 3.42 percentage points lower than the rate recorded in December 2025 (0.54 per cent).
“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,” the bureau said.
Meanwhile, the food inflation rate in January 2026 was 8.89 per cent on a year-on-year basis. This was 20.73 percentage points lower compared to the rate recorded in January 2025 (29.63 per cent).
“On a month-on-month basis, the food inflation rate in January 2026 was -6.02 per cent, down by 5.66 percentage points compared to December 2025 (-0.36 per cent). 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,” NBS stated.
Also, the average annual rate of food inflation for the twelve months ending January 2026 over the previous twelve-month average was 20.29 per cent, which was 18.18 percentage points lower compared with the average annual rate of change recorded in January 2025 (38.47 per cent).
