{"id":10434,"date":"2026-10-18T13:45:00","date_gmt":"2026-10-18T13:45:00","guid":{"rendered":"https:\/\/isokovibe.com.ng\/blog\/?p=10434"},"modified":"2026-10-18T12:54:48","modified_gmt":"2026-10-18T12:54:48","slug":"september-inflation-market-prices","status":"publish","type":"post","link":"https:\/\/isokovibe.com.ng\/blog\/september-inflation-market-prices\/","title":{"rendered":"Inflation fell to 14.63%, so why does your market list still cost so much"},"content":{"rendered":"\n

Nigeria’s inflation rate fell to 14.63% in September 2026, down from 15.39% in August, according to the Consumer Price Index the National Bureau of Statistics released on October 15. Average food prices also dropped by 1.55% between August and September. If you went to the market this weekend and still came back with a lighter purse and a half-empty bag, you’re not imagining things, and the numbers explain why both can be true at once.<\/p>\n\n\n\n

Headline inflation is the kind of statistic that gets announced on the news and then argued about at every bus stop. Knowing what it measures, and what it doesn’t, makes it easier to plan the next few months, especially with Christmas shopping, school fees and a full calendar of December events all heading your way.<\/p>\n\n\n\n

A lower inflation rate means prices are rising slower, not falling<\/h2>\n\n\n\n

The 14.63% figure compares prices in September 2026 with prices in September 2025. It tells you that, on average, the basket of goods and services the NBS tracks costs about 14.63% more than it did a year ago. Last month the gap was 15.39%, so prices are still climbing, just at a gentler pace than before. Your rice, garri and transport fare haven’t gone back to last year’s prices, and a falling inflation rate on its own was never going to do that.<\/p>\n\n\n\n

The month-on-month numbers are where the more hopeful news sits. Overall prices rose by only 0.06% between August and September, compared with 0.71% the month before, which means the general price level barely moved in September. For people who have spent the past few years watching prices jump every few weeks, a month where things mostly held still is worth noticing.<\/p>\n\n\n\n

Food got cheaper in September, but it’s still far dearer than last year<\/h2>\n\n\n\n

Food inflation stood at 19.59% year on year in September, almost the same as August’s 19.57%, so food is still about a fifth more expensive than it was this time last year. Between August and September, though, average food prices fell by 1.55%, after rising 1.02% the month before. The NBS figures also show prices of farm produce dropping month on month, which fits with what traders usually see at this time of year as new harvests reach the markets. It’s the same pattern behind the tomato season that makes now a good time to blend and freeze<\/a>.<\/p>\n\n\n\n

Where you live makes a big difference too. Lagos recorded the highest food inflation of any state in September at 34.40% year on year, followed by Imo at 33.79% and Ondo at 31.49%. Imo also had the highest overall inflation rate at 30.04%. Urban inflation was 15.64%, while rural inflation was lower at 12.46%, so a family shopping in a big city market is feeling the squeeze more than the national average suggests.<\/p>\n\n\n\n

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Photo: Shurhabil Bukhari \/ Pexels<\/figcaption><\/figure>\n\n\n\n

Prices outside the food basket are still climbing<\/h2>\n\n\n\n

Core inflation, which leaves out farm produce and energy so you can see the underlying trend, eased to 12.95% from 13.29% in August. On a monthly basis, however, core prices rose by 1.11% in September after dipping slightly in August. In everyday terms, core covers things that don’t follow harvest seasons, like clothing, household items, services and rent, and it’s a reminder that a cheaper basket of tomatoes doesn’t mean the rest of your bills are calming down at the same speed.<\/p>\n\n\n\n

That’s why the headline number can feel so far from real life. If most of your income goes on food, you may notice September’s dip sooner. If rent, transport, fuel for your generator and children’s school expenses take the bigger share, you’re more likely to feel that nothing has changed at all.<\/p>\n\n\n\n

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Photo: Daggash Farhan \/ Pexels<\/figcaption><\/figure>\n\n\n\n

How to stretch your money while prices are steadier<\/h2>\n\n\n\n

A month or two of calmer food prices is a window to buy smarter, not to relax completely. Buy staples like rice, beans and garri in larger quantities now if you have the cash and good storage, and split bags or baskets with neighbours, colleagues or family members if a full bag is too much for one home. Seasonal produce is at its cheapest when it’s plentiful, so lean on what’s in season and save the out-of-season items for when you really need them.<\/p>\n\n\n\n

It also helps to compare prices between your usual market and one or two others nearby, since prices can differ a lot from one market to the next, and to keep a short written list so you’re not tempted by things you didn’t plan to buy. Prices tend to climb as December approaches and demand picks up, which is part of why Nigerians take the ember months so seriously<\/a>, so stocking up on non-perishables in October or early November usually beats waiting until the week before Christmas.<\/p>\n\n\n\n

Plan for December with the numbers you can actually see<\/h2>\n\n\n\n

Monthly figures can change quickly, and one good month doesn’t guarantee the next. The NBS publishes the CPI report every month, so you can follow the trend yourself on the National Bureau of Statistics website<\/a> instead of relying on rumours about what prices are doing. If you’re planning big spending for the end of the year, from travel to owambes and aso-ebi for friends’ weddings<\/a>, write down what you expect to spend now and add a little extra for price changes.<\/p>\n\n\n\n

September’s report is good news in a narrow sense, because prices barely rose and food actually got a bit cheaper over the month. Your own receipts are still the best guide to your household budget, so use this calmer stretch to stock up, compare markets and set money aside before the festive rush pushes prices up again.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigeria’s inflation rate eased to 14.63% in September, and food prices fell month on month. Here’s what the latest NBS figures mean for your market budget.<\/p>\n","protected":false},"author":1,"featured_media":10436,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[427],"tags":[570,580,553,581,547],"class_list":["post-10434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-knowledge","tag-food-prices","tag-inflation","tag-money","tag-nbs","tag-nigeria"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/isokovibe.com.ng\/blog\/wp-content\/uploads\/2026\/10\/vendor-selling-fresh-produce-lagos-market.jpg","_links":{"self":[{"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/posts\/10434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=10434"}],"version-history":[{"count":1,"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/posts\/10434\/revisions"}],"predecessor-version":[{"id":10440,"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/posts\/10434\/revisions\/10440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/media\/10436"}],"wp:attachment":[{"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=10434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=10434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isokovibe.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=10434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}