Nigeria’s annual inflation rate rose for a second straight month to 15.69% in April 2026, the highest since last November, from March's 15.38%. This partly reflected continued pass-through from the March fuel price shock linked to the Middle East conflict, which pushed up food prices and affected the exchange rate. Food inflation, the largest component of the inflation basket, quickened for the third month to 16.06% in April, with increases seen across key staples, including millet, yam flour, ginger, beef, garri, tubers, pepper, among others. Transportation prices rose by 16%, following a 16.9% surge in March. Additional upward pressure came mostly from restaurants & hotels (27.9% vs 25.2%) and health (18.9% vs 20.1%). However, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, eased to 15.86% in April from 16.21% in the month before. On a monthly basis, the CPI index advanced by 2.13%, after a 4.18% jump recorded in the prior month. source: National Bureau of Statistics, Nigeria

Inflation Rate in Nigeria increased to 15.69 percent in April from 15.38 percent in March of 2026. Inflation Rate in Nigeria averaged 14.28 percent from 1996 until 2026, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2026.

Inflation Rate in Nigeria increased to 15.69 percent in April from 15.38 percent in March of 2026. Inflation Rate in Nigeria is expected to be 16.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Inflation Rate is projected to trend around 13.00 percent in 2027 and 11.70 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-15 01:40 PM
Inflation Rate YoY
Mar 15.38% 15.06% 15.0%
2026-05-15 01:30 PM
Inflation Rate YoY
Apr 15.69% 15.38% 15.7%
2026-06-15 12:00 PM
Inflation Rate YoY
May 15.69% 15.8%


Related Last Previous Unit Reference
Consumer Price Index CPI 138.30 135.40 points Apr 2026
Core Consumer Prices 138.42 137.01 points Apr 2026
Core Inflation Rate 15.86 16.21 percent Apr 2026
CPI Housing Utilities 140.30 136.60 points Apr 2026
CPI Transportation 138.40 137.40 points Apr 2026
Food Inflation YoY 16.06 14.31 percent Apr 2026
GDP Deflator 199.15 196.73 points Sep 2025
Inflation Rate YoY 15.69 15.38 percent Apr 2026
Inflation Rate MoM 2.10 4.20 percent Apr 2026


Nigeria Inflation Rate
In Nigeria, the Consumer Price Index (CPI) measures the change over time in prices of 740 goods and services consumed by people for day-to-day living. The index weights are based on expenditures of both urban and rural households in the 36 states. The most important categories in the CPI are: Food & Non-alcoholic Beverages (52% of the total weight), Housing, Water, Electricity, Gas & Other Fuel (17%), Clothing & Footwear (8%). Transports account for 7% and Furnishings & Household Equipment Maintenance for 5%. Others include: Education (4%); Health (3%); Miscellaneous Goods and Services (2%); Restaurants and Hotels (1%); Alcoholic Beverages, Tobacco & Kola (1%); Recreation & Culture (1%); and Communications (1%).
Actual Previous Highest Lowest Dates Unit Frequency
15.69 15.38 47.56 -2.49 1996 - 2026 percent Monthly
2024=100

News Stream
Nigeria Inflation Rate Quickens to 5-Month High in April
Nigeria’s annual inflation rate rose for a second straight month to 15.69% in April 2026, the highest since last November, from March's 15.38%. This partly reflected continued pass-through from the March fuel price shock linked to the Middle East conflict, which pushed up food prices and affected the exchange rate. Food inflation, the largest component of the inflation basket, quickened for the third month to 16.06% in April, with increases seen across key staples, including millet, yam flour, ginger, beef, garri, tubers, pepper, among others. Transportation prices rose by 16%, following a 16.9% surge in March. Additional upward pressure came mostly from restaurants & hotels (27.9% vs 25.2%) and health (18.9% vs 20.1%). However, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, eased to 15.86% in April from 16.21% in the month before. On a monthly basis, the CPI index advanced by 2.13%, after a 4.18% jump recorded in the prior month.
2026-05-15
Nigeria Inflation Rate Rises for 1st Time in a Year
Nigeria’s annual inflation rate rose slightly to 15.38% in March 2026 from 15.06% in February, ending an 11-month disinflation trend. Food inflation, the largest component of the inflation basket, accelerated for a second month to 14.31% from 12.12%, while transport prices rose even more sharply, up 16.9% from 14.7% in February. The Middle East crisis has triggered a sharp increase in domestic fuel costs. Prices also increased significantly for miscellaneous goods & services (24.5% vs 21.2%), but slowed for some categories, notably housing & utilities (10.2% sv 18.8%), alcoholic beverages & tobacco (4.5% vs 9.4%) and clothing & footwear (8.5% vs 16.1%). The core inflation rate, which strips out the volatile prices of agricultural produce and energy, quickened to 16.21% in March from 15.88% in February. On a monthly basis, prices climbed by 4.2%, marking the steepest increase since January 2025, largely driven by transportation costs (4% vs -0.3%).
2026-04-15
Nigeria Inflation Edges Lower to Five-Year Low in February
Nigeria’s annual inflation rate eased slightly to 15.06% in February 2026 from 15.10% in the previous month, marking the lowest level since November 2020 and the 11th consecutive month of declining inflation. However, the pace of disinflation has slowed in the past two months, following a small interest rate cut by the Central Bank of Nigeria, which signaled expectations that inflation will continue to moderate. Despite the overall slowdown, food inflation, traditionally the main driver of headline prices in the country, rose to 12.12% in February from 8.89% in January. The National Bureau of Statistics recently introduced a revised methodology for calculating inflation, shifting to a 12-month reference period instead of relying on a single-month comparison.
2026-03-16