Abuja, June 15, 2026 – Nigeria’s headline inflation rate rose to 15.93% in May from 15.69% in April
This is the third consecutive rise in the inflation rate in 2026.
The National Bureau of Statistics (NBS) disclosed this in the latest edition of its consumer price index (CPI) report released on Monday.
It said the headline inflation rose on a year-on-year basis to 15.93% in May, up from 15.69% in April 2026 and down from 26.06% in the same month of the preceding year (May 2025).
“Looking at the movement, the May 2026 Headline inflation rate showed an increase of 0.24% compared to the April 2026 Headline inflation rate.
“In May 2026, the headline inflation rate on a month-on-month basis was 1.75%, which was 0.39% lower than the rate recorded in April 2026 (2.13%).
“This means that in May 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in April 2026.”
The index also indicated that food inflation rose to 16.96 percent in May from 16.68 percent in April.
“The food inflation rate in May 2026 on a month-on-month basis was 2.98%, down by 0.65% points from April 2026 (3.63%)” the report said.
“This can be attributed to the rate of change in the average prices of the following products: Onions (fresh), Maize (Corn) grains, Melon (Egusi), Water Yam, Cassava Flour, Crayfish, Pepper (fresh), Tomatoes (fresh), Wheat Grain, Cassava Tuber, Yam Tuber, Sweet Potatoes, Ginger (fresh), Plantain, Cow Pea, etc,” the report said.
