Nigeria’s inflation rose for the third consecutive month to 15.93 per cent in May 2026 from 15.69 per cent recorded in April.
The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index (CPI) and inflation data released on Monday.
This means that in May, the country’s inflation rose on a month-on-month basis by 1.75 per cent.
Also, the report showed that food inflation also skyrocketed to 16.96 per cent in May, up from 16.06 per cent recorded the previous month.
‘In May 2026, the headline inflation rate on a month-on-month basis was 1.75 per cent, which was 0.39 per cent lower than the rate recorded in April 2026 (2.13 per cent).
On a year-on-year basis, the headline inflation rate rose to 15.93 per cent, up from 15.69 per cent in April 2026 and down from 26.06 per cent in the same month of the preceding year (May 2025).
‘The Food inflation rate in May 2026 on a month-on-month basis was 2.98 per cent, down by 0.65 percentage points from April 2026 (3.63 per cent). On a year-on-year basis, it was 16.96 percent and stood at 24.55 per cent in the same month of the preceding year, May 2025’.
It was reported that the headline inflation rate dropped in March and April, respectively.
Recall the Central Bank of Nigeria (CBN) retained the country’s interest rate 26.50 percent in its 305th Monetary Policy meeting.
