Nigeria's CPI Hits 15.38% Amid Cost-Push Inflation

The Centre for the Promotion of Private Enterprise (CPPE) has flagged cost-push inflation as Nigeria's Consumer Price Index (CPI) rises to 15.38%. The increase is attributed to significant cost pressures, particularly from rising energy costs and logistical bottlenecks.

The CPPE's policy brief, following the March 2026 inflation report from the National Bureau of Statistics, indicates a fragile disinflation trend, highlighting renewed cost pressures across the economy. The report shows a sharp month-on-month increase in inflation, with food and transport costs accounting for 70% of the overall price pressures.

The CPPE cautions that further monetary tightening could negatively impact economic growth and investment without addressing the root causes of inflation. The report emphasizes the need for supply-side interventions to tackle these structural issues, as inflation remains volatile, influenced by various factors including exchange rate fluctuations and market adjustments.