Nigeria’s Inflation Climbs To 15.69%

Nigeria’s headline inflation rate has risen to 15.69% for April 2026, according to fresh data released on Friday by the National Bureau of Statistics (NBS).

According to Ireporter Online, the latest figure represents a 0.31% increase from the 15.38% recorded in March 2026, reflecting a continued upward trend in price levels despite signs of easing momentum in monthly inflation.

The NBS data showed that the Consumer Price Index (CPI) increased to 138.3 in April from 135.4 in March, following the agency’s recent rebasing exercise, which adopted 2024 as the base year and 2023 as the weight reference period.

However, the bureau noted that while annual inflation edged higher, the pace of price increases slowed on a month-on-month basis, dropping to 2.13% in April from 4.18% in March, indicating a moderation in short-term price pressures.

The report further highlighted a significant improvement when compared to April 2025, when headline inflation stood at a much higher 26.82%, suggesting some easing in long-term inflationary pressure.

The NBS attributed the rise in inflation largely to increases in prices of food and non-alcoholic beverages, restaurant and accommodation services, and transport, which remained the biggest contributors to the index. Minimal contributions were recorded in sectors such as recreation, alcoholic beverages, tobacco, and insurance services.

Food inflation stood at 16.06% year-on-year in April, lower than 24.68% recorded in the same period last year, while monthly food inflation also slowed to 3.63% from 4.17% in March, reflecting softer price increases in key staple goods.

Core inflation, which excludes volatile items such as food and energy, was recorded at 15.86% year-on-year, while the month-on-month rate dropped sharply to 1.03% from 4.03% in March.

On a regional basis, urban inflation was recorded at 15.40%, while rural inflation stood higher at 16.36%, with both areas experiencing a slowdown in monthly inflation compared to the previous month.

The National Bureau of Statistics reiterated that the figures reflect ongoing structural adjustments in the economy following its rebasing exercise, while monitoring price stability across key sectors of the economy.