Nigeria’s Inflation Rises to 15.93% in May, NBS Says

Nigeria’s headline inflation rate rose to 15.93 per cent year-on-year in May 2026, according to the latest Consumer Price Index report from the National Bureau of Statistics.

The May figure is higher than the 15.69 per cent recorded in April 2026, representing a 0.24 percentage-point increase. The report was released on Monday, June 15, 2026.

Despite the monthly rise, the headline rate remains lower than the 26.06 per cent recorded in May 2025, reflecting the effect of the rebased CPI series and changes in the year-on-year comparison.

Food inflation stood at 16.96 per cent year-on-year in May. However, the month-on-month food inflation rate eased to 2.98 per cent from 3.63 per cent in April, showing a slower pace of food price increases during the month.

Core inflation, which excludes volatile agricultural produce and energy-related items, was reported at 16.82 per cent year-on-year.

The latest numbers mean inflation has now moved upward for another month, keeping pressure on households and policymakers as food, transport and other essential costs remain closely watched.

The NBS report will also feed into expectations around monetary policy, household purchasing power and the government’s broader effort to stabilise prices through food supply and fiscal measures. For many households, the key test remains whether slower monthly food increases can translate into visible relief in markets across the country. Businesses will also be watching the figures as they plan prices, wages and inventory costs for the second half of the year.

Sources: National Bureau of Statistics, Punch, TheCable.