Nigeria’s inflation rate increased for the third consecutive month, reaching 15.93 per cent in May 2026, up from 15.69 per cent recorded in April.
The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index (CPI) and inflation report released on Monday, showing that inflation rose by 1.75 per cent on a month-on-month basis during the period under review.
The report also revealed that food inflation climbed to 16.96 per cent in May from 16.06 per cent in April, reflecting continued pressure on household food costs across the country.
According to the NBS, “In May 2026, the headline inflation rate on a month-on-month basis was 1.75 per cent, which was 0.39 percentage points lower than the 2.13 per cent recorded in April 2026. On a year-on-year basis, the headline inflation rate rose to 15.93 per cent from 15.69 per cent in April 2026, but remained lower than the 26.06 per cent recorded in May 2025.
“The food inflation rate in May 2026 stood at 2.98 per cent on a month-on-month basis, down by 0.65 percentage points from 3.63 per cent in April 2026. On a year-on-year basis, food inflation was 16.96 per cent, compared to 24.55 per cent recorded in May 2025.”
The latest figures come after inflation moderated in March and April. In response to inflationary trends, the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate (MPR) at 26.50 per cent during its 305th Monetary Policy Committee meeting.
