Analysis on the September 2026 inflation forecast.
We project headline inflation to rise 0.95% month-on-month in September, up from 0.71% in August. Higher PMS and diesel prices should lift transport and distribution costs, but cheaper food and a firmer naira limit the pass-through. As this exceeds the 0.72% recorded in September 2025, year-on-year inflation rises to about 15.65%.
Kindly download the full report here.
