Nigeria’s headline inflation rate rises to 15.93% in May 2026, according to the National Bureau of Statistics (NBS). The figure marks the third consecutive month of increases. On a year-on-year basis, headline inflation increases from 15.69% in April 2026 to 15.93% in May. Compared with May 2025, the rate is lower than 26.06%, as reported in the NBS CPI data. On a month-on-month basis, the headline inflation rate is 1.75% in May 2026, down from 2.13% in April, indicating a smaller increase in the average price level than the previous month.
Food inflation also increases. NBS reports food inflation at 16.96% year-on-year in May 2026, up from 16.68% in April, though it remains below 24.55% in May 2025. On a month-on-month basis, food inflation is 2.98% in May 2026, down from 3.63% in April. Sources attribute the inflation pressure largely to higher food costs across states, with variations in the fastest and slowest rising rates by region.
