Nigeria's Food Inflation Drops to 14.31% in March 2026

According to the latest data released by the National Bureau of Statistics on Wednesday, Nigeria's food inflation rate has dropped to 14.31% in March 2026, reflecting a notable decline compared to the previous year. The data indicates a significant reduction from the 25.22% recorded in March 2025, suggesting that food price pressures have moderated over the past year.

However, despite this short-term improvement, the monthly inflation rate stood at 4.17% in March, slightly lower than the 4.69% recorded in February. This indicates that while the pace of increase has slowed, food prices continue to rise at a noticeable rate.

The ongoing monthly increases highlight the uneven nature of price relief, with the food index reflecting broader economic inflation trends. Although the economy may stabilize gradually, the impact on consumer levels is expected to take longer to adjust, leaving Nigerian households under continued financial strain due to persistent inflationary pressures.