Nigeria’s inflation rate rose for the third consecutive month, reaching 15.93 percent in May 2026 compared to 15.69 percent in April, according to the latest Consumer Price Index released by the National Bureau of Statistics.
While the increase reflects continued price pressures, the figure remains significantly below the 26.06 percent recorded in May 2025.
The bureau reported that overall inflation increased by 0.24 percentage points month-on-month, although the pace of price growth slowed, with monthly inflation easing to 1.75 percent in May from 2.13 percent in April.
Food inflation also edged higher on an annual basis, rising from 16.68 percent in April to 16.96 percent in May.
However, monthly food inflation declined to 2.98 percent from 3.63 percent, suggesting a moderation in the rate of food price increases.
According to the statistics agency, the slowdown was driven by changes in the prices of key food items, including onions, maize, yam, cassava products, tomatoes, pepper, ginger, plantains and cowpeas.
Despite the easing monthly trend, rising food costs continue to contribute significantly to inflationary pressures across the country.
