Nigeria Inflation Hits 15.93% in May 2026, NBS Reports

Nigeria inflation rises to 15.93% in May 2026 as food prices surge to 16.96%, NBS CPI report shows.

National Bureau of Statistics Nigeria inflation report for May 2026 showing rising food prices in a Nigerian market

Nigerians are paying more for food and basic goods again. Headline inflation climbed for the third month in a row in May.

The National Bureau of Statistics, NBS, confirmed the rise in its latest Consumer Price Index report released on Monday.

According to the bureau, headline inflation stood at 15.93 percent in May 2026. That is up from 15.69 percent recorded in April.

On a month-on-month basis, prices rose by 1.75 percent in May. The pace was slower than April, when monthly inflation was 2.13 percent.

Food inflation remains the biggest pressure point for households. It jumped to 16.96 percent year-on-year in May, up from 16.06 percent in April.

Month-on-month, food prices increased by 2.98 percent. That is still high, but slower than the 3.63 percent rise seen in April.

The NBS noted that while inflation is rising again in the short term, it is far lower than a year ago. In May 2025, headline inflation was 26.06 percent, while food inflation was 24.55 percent.

The fresh uptick comes weeks after the Central Bank of Nigeria held its benchmark interest rate steady. At its 305th Monetary Policy Committee meeting, the CBN retained the rate at 26.50 percent.

The NBS CPI report is the official source for Nigeria’s inflation data.