Harry Archie
Nigeria’s inflation rate rose to 15.93 per cent in May 2026, according to the latest report by the National Bureau of Statistics (NBS).
The figure increased from 15.69 per cent in April, marking the third consecutive rise this year.
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However, it remains significantly lower than the 26.06 per cent recorded in May 2025.
The NBS said the Consumer Price Index (CPI), which measures changes in the prices of goods and services, rose from 138.3 in April to 140.7 in May, showing that consumer prices continued to increase.
On a month-to-month basis, inflation slowed to 1.75 per cent in May, down from 2.13 per cent in April.
Food prices remained a major driver of inflation.
Food inflation stood at 16.96 per cent, driven by higher prices of staples such as onions, maize, tomatoes, yam, cassava products, pepper and cowpea.
Core inflation, which excludes food and energy prices, was 16.82 per cent, while services inflation stood at 17.92 per cent.
Among the states, Yobe recorded the highest annual inflation rate at 24.94 per cent, followed by Anambra and Sokoto.
Niger recorded the lowest rate at 3.07 per cent.The report suggests that although inflation has eased compared to last year, Nigerians continue to face rising costs of food, transportation and other essential goods and services.
