Nigeria's Inflation Rate Climbs to 15.38% in March 2026

The National Bureau of Statistics (NBS) reported a significant rise in Nigeria's inflation rate, which reached 15.38% in March 2026, an increase from 15.06% in February. This surge indicates renewed pressure on consumer prices, with a month-on-month inflation jump of 4.18% compared to 2.01% in the previous month.

The report highlights that the primary drivers of inflation during this period include food, non-alcoholic beverages, restaurant services, and transport. Notably, food inflation eased slightly on a year-on-year basis, falling to 14.31%.

The NBS also noted that inflationary pressures are more pronounced in rural areas, where the inflation rate increased to 17.22%. Certain states, including Bayelsa, Sokoto, and Bauchi, recorded the highest inflation rates nationwide, reflecting the broader economic challenges facing the country.