Will NBS report Nigeria’s food inflation above 22% year-on-year for August 2026, when the August CPI report is released in September?

Outcome: NO

How this forecast is settled

The jump from 17.52% to 20.31% in July means another sizeable increase would put August above 22%. However, this is not a high-confidence forecast because harvest-season supply improvements could interrupt the recent acceleration.

Resolution

No, Nigeria's food inflation did not jump above 22% in August 2026.According to the official Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) in September 2026, Nigeria's year-on-year food inflation rate dropped to 19.57%.

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