Nigeria’s inflation rises to 15.93% amid surge in food prices

Nigeria’s inflation rate rose for the third consecutive month in May 2026 as food prices continued to exert pressure on household budgets, despite a slowdown in the pace of monthly price increases.
Data released by the National Bureau of Statistics (NBS) on Monday showed that headline inflation increased to 15.93 per cent in May from 15.69 per cent in April. However, the figure remained significantly lower than the 26.06 per cent recorded in May 2025.
“On a year-on-year basis, the Headline inflation rate rose to 15.93%, up from 15.69% in April 2026 and down from 26.06% in the same month of the preceding year (May 2025),” the NBS said.
The bureau added that “the May 2026 Headline inf...