BREAKING: NIGERIA SEES INFLATION RISE AGAIN, MARKING THIRD STRAIGHT MONTH OF INCREASE
Read Time:1 Minute, 16 Second
By:Tajudeen Aminat
Nigeria’s inflation rate increased for the third consecutive month, reaching 15.93 percent in May 2026, up from 15.69 percent recorded in April, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The report showed that inflation rose by 1.75 percent on a month-on-month basis in May, reflecting a continued upward trend in consumer prices.
Food inflation also climbed during the period, rising to 16.96 percent in May from 16.06 percent in April, indicating sustained pressure on food prices nationwide.
According to the NBS, the headline inflation rate on a monthly basis stood at 1.75 percent in May, which was lower than the 2.13 percent recorded in April. However, on a year-on-year basis, inflation increased to 15.93 percent, compared to 15.69 percent in April, though it remained significantly below the 26.06 percent recorded in May 2025.
Similarly, food inflation on a month-on-month basis eased slightly to 2.98 percent in May from 3.63 percent in April. On a year-on-year basis, food inflation stood at 16.96 percent, compared to 24.55 percent in the corresponding period of 2025.
The latest figures mark the third straight month of inflationary growth after previous declines recorded earlier in the year.
Meanwhile, the Central Bank of Nigeria (CBN) recently retained the country’s benchmark interest rate at 26.50 percent during its 305th Monetary Policy Committee meeting.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0