Nigeria’s inflation rate climbs again as food prices drive increase
Nigeria’s inflation rate has risen for the third month in a row, putting more pressure on household budgets. The National Bureau of Statistics reported that food and non-alcoholic beverages remain the largest contributors to the rising cost of living. The latest data highlights persistent inflationary pressures, despite some moderation in monthly price increases. The figures also show significant differences in inflation rates across states and sectors.
What we know
- Nigeria’s inflation rate increased to 15.93 per cent in May 2026, up from 15.69 per cent in April 2026.
- The Consumer Price Index rose to 140.7 in May from 138.3 in April, marking a 2.4-point increase.
- Food inflation stood at 16.96 per cent year-on-year in May, compared to 24.55 per cent in May 2025.
- Core inflation reached 16.82 per cent year-on-year in May, while urban inflation was recorded at 16.07 per cent and rural at 15.60 per cent.
- Yobe had the highest annual headline inflation at 24.94 per cent, while Niger recorded the lowest at 3.07 per cent.
