At 23.68%, Lagos emerges highest inflation rate state in Southwest  geopolitical zone 

Currently at 23.68 per cent as of August 2026,  Lagos state leads five other south west states as the highest inflation rate state of all-Items on a Year-on-Year (YoY) basis, followed by Osun state that closed at 16per cent.

This  is according to the latest Consumer Price Index report of the National Bureau of Statistics (NBS). 

In August 2026, the report by NBS revealed that inflation rate stood at 15.39per cent, down from 15.43per cent in July 2026 and stood at 23.14per cent in the same month of the preceding year (August 2025). 

Lagos has a combination of high food distribution costs, expensive housing, transport costs, strong consumer demand and high operating costs for businesses.

The report by NBS revealed that Ondo state came close to Osun with an inflation  rate of 15.10 per cent as  Ogun state closed at 11.70 per cent.  

Other states,  Oyo’ inflation rate at 10 per cent and Ekiti, 8.50 per cent as of August 2026. 

Across the  country, NBS revealed that the all-Items inflation rate on a YoY basis was highest in Lagos (23.68per cent), Zamfara (22.56per cent), and Enugu (22.06pper cent), while Sokoto (2.11per cent), Kebbi (3.72pe cent) and Jigawa (3.81per cent) recorded the lowest rise in headline inflation on a Year-on-Year basis. 

“On a Month-on-Month basis, however, August 2026 recorded the highest increases in Rivers (6.92per cent), Osun (5.61per cent) and Kano (5.59per cent), while Anambra (-8.83per cent), Bauchi (-7.13per cent), and Borno (-7.09per cent) recorded the lowest rise in the Month-on-Month inflation,”the report said.