Some stakeholders have expressed mixed reactions to the National Bureau of Statistics (NBS) report showing that food inflation in Nigeria declined to 8.89 percent in January, figures the statistics agency published in its latest Consumer Price Index report.

The January 2026 inflation statistics from the NBS showed that food inflation, a major component of the consumer price index, eased significantly compared with rates recorded in the same period last year.

NBS’s revised CPI methodology and updated base year were applied to the latest release.

According to the NBS report, food inflation fell to 8.89 percent year‑on‑year in January 2026, marking the first time in more than a decade that the rate was in single digits and the lowest in over 14 years.

The agency attributed the slowdown to reduced average prices of key staples including water yam, eggs, palm oil, maize, cassava, and other food items.

The report also showed that headline inflation eased to around 15.10 percent in January 2026, down marginally from figures in December 2025, while the 12‑month average food inflation was lower than in the previous year.

Stakeholders reacted differently to the report. Some welcomed the decline in food inflation as a positive development for household budgets.

Others emphasised that while the percentage point drop reflects slower increases in food prices, many consumers still face high costs for staples at markets.

The NBS statistics showed regional variations in food inflation, with some states recording higher year‑on‑year food price increases than others, underscoring uneven price movements across the country.

Food inflation is a key driver of the overall cost of living in Nigeria, where food expenses account for a large share of household spending.

Analysts often track food price trends separately because they heavily influence headline inflation measures and consumers’ purchasing power.