The annual inflation rate in Nigeria rose for a third straight month to 15.93% in May 2026, marking the highest since last November, from 15.69% in the previous month. Food inflation, the largest component of the inflation basket, accelerated for the fourth month to 17.8% from 16.6% in April, alongside transport costs, up 17.1% from 16%, partly driven by the continued pass-through of the March fuel price shock linked to the Middle East conflict. Prices also continued to increase for health (18.7% vs 18.9%), restaurants and accommodation services (24% vs 27.9%), and personal care, social protection and miscellaneous goods and services (17.8% vs 18.5%). In contrast, inflation notably softened for information and communication (7.4% vs 8.4%). Meanwhile, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, rose by 16.82% from 15.86% in the month before. On a monthly basis, the CPI went up by 1.75% in May, easing from a 2.13% gain in April. source: National Bureau of Statistics, Nigeria

Inflation Rate in Nigeria increased to 15.93 percent in May from 15.69 percent in April of 2026. Inflation Rate in Nigeria averaged 14.29 percent from 1996 until 2026, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2026.

Inflation Rate in Nigeria increased to 15.93 percent in May from 15.69 percent in April of 2026. Inflation Rate in Nigeria is expected to be 16.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Inflation Rate is projected to trend around 13.50 percent in 2027 and 12.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-15 01:30 PM
Inflation Rate YoY
Apr 15.69% 15.38% 15.7%
2026-06-15 01:10 PM
Inflation Rate YoY
May 15.93% 15.69% 15.8%
2026-07-15 12:00 PM
Inflation Rate YoY
Jun 15.93% 16.0%


Related Last Previous Unit Reference
Consumer Price Index CPI 140.70 138.30 points May 2026
Core Consumer Prices 141.11 138.42 points May 2026
Core Inflation Rate 16.82 15.86 percent May 2026
CPI Housing Utilities 143.50 140.30 points May 2026
CPI Transportation 139.40 138.40 points May 2026
Food Inflation YoY 16.96 16.06 percent May 2026
GDP Deflator 216.12 191.98 points Mar 2026
Inflation Rate YoY 15.93 15.69 percent May 2026
Inflation Rate MoM 1.75 2.13 percent May 2026


Nigeria Inflation Rate
In Nigeria, the Consumer Price Index (CPI) measures the change over time in prices of 740 goods and services consumed by people for day-to-day living. The index weights are based on expenditures of both urban and rural households in the 36 states. The most important categories in the CPI are: Food & Non-alcoholic Beverages (52% of the total weight), Housing, Water, Electricity, Gas & Other Fuel (17%), Clothing & Footwear (8%). Transports account for 7% and Furnishings & Household Equipment Maintenance for 5%. Others include: Education (4%); Health (3%); Miscellaneous Goods and Services (2%); Restaurants and Hotels (1%); Alcoholic Beverages, Tobacco & Kola (1%); Recreation & Culture (1%); and Communications (1%).
Actual Previous Highest Lowest Dates Unit Frequency
15.93 15.69 47.56 -2.49 1996 - 2026 percent Monthly
2024=100

News Stream
Nigeria Inflation Hits 6-Month High
The annual inflation rate in Nigeria rose for a third straight month to 15.93% in May 2026, marking the highest since last November, from 15.69% in the previous month. Food inflation, the largest component of the inflation basket, accelerated for the fourth month to 17.8% from 16.6% in April, alongside transport costs, up 17.1% from 16%, partly driven by the continued pass-through of the March fuel price shock linked to the Middle East conflict. Prices also continued to increase for health (18.7% vs 18.9%), restaurants and accommodation services (24% vs 27.9%), and personal care, social protection and miscellaneous goods and services (17.8% vs 18.5%). In contrast, inflation notably softened for information and communication (7.4% vs 8.4%). Meanwhile, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, rose by 16.82% from 15.86% in the month before. On a monthly basis, the CPI went up by 1.75% in May, easing from a 2.13% gain in April.
2026-06-15
Nigeria Inflation Rate Quickens to 5-Month High in April
Nigeria’s annual inflation rate rose for a second straight month to 15.69% in April 2026, the highest since last November, from March's 15.38%. This partly reflected continued pass-through from the March fuel price shock linked to the Middle East conflict, which pushed up food prices and affected the exchange rate. Food inflation, the largest component of the inflation basket, quickened for the third month to 16.06% in April, with increases seen across key staples, including millet, yam flour, ginger, beef, garri, tubers, pepper, among others. Transportation prices rose by 16%, following a 16.9% surge in March. Additional upward pressure came mostly from restaurants & hotels (27.9% vs 25.2%) and health (18.9% vs 20.1%). However, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, eased to 15.86% in April from 16.21% in the month before. On a monthly basis, the CPI index advanced by 2.13%, after a 4.18% jump recorded in the prior month.
2026-05-15
Nigeria Inflation Rate Rises for 1st Time in a Year
Nigeria’s annual inflation rate rose slightly to 15.38% in March 2026 from 15.06% in February. Food inflation, the largest component of the inflation basket, accelerated for a second month to 14.31% from 12.12%, while transport prices rose even more sharply, up 16.9% from 14.7% in February. The Middle East crisis has triggered a sharp increase in domestic fuel costs. Prices also increased significantly for miscellaneous goods & services (24.5% vs 21.2%), but slowed for some categories, notably housing & utilities (10.2% sv 18.8%), alcoholic beverages & tobacco (4.5% vs 9.4%) and clothing & footwear (8.5% vs 16.1%). The core inflation rate, which strips out the volatile prices of agricultural produce and energy, quickened to 16.21% in March from 15.88% in February. On a monthly basis, prices climbed by 4.2%, marking the steepest increase since January 2025, largely driven by transportation costs (4% vs -0.3%).
2026-04-15