Nigeria’s inflation rate declined marginally to 15.10 per cent in January 2026, down from 15.15 per cent recorded in December 2025.

The latest figure is contained in the Consumer Price Index (CPI) report released on Monday by the National Bureau of Statistics (NBS).

The report shows that the 0.05 percentage-point decrease reflects a continued easing of price pressures at the start of the year.

On a year-on-year basis, inflation fell significantly when compared with January 2025. The January 2026 rate of 15.10 per cent represents a 12.51 percentage-point drop from the 27.61 per cent recorded in the corresponding period last year.

The NBS attributed the marginal slowdown partly to changes in its price measurement framework introduced in its previous report. The bureau explained that the revised methodology is designed to better capture prevailing market conditions.

Under the new approach, the NBS now applies a 12-month reference period, with the average CPI for the 12 months of 2024 set as the base year equal to 100. Previously, the CPI was benchmarked against a single-month reference period, with December 2024 fixed at 100.

The report also indicated a moderation in food inflation, a major driver of consumer prices. Food inflation declined to 8.89 per cent year-on-year in January, compared with 10.84 per cent recorded in December 2025.

The latest figures suggest a gradual slowdown in inflationary pressures, offering cautious optimism for price stability in the months ahead.