Inflation in Nigeria reached a six-month high of 15.93% in May 2026, driven by rising prices of maize, onions, and tomatoes. The Centre for the Promotion of Private Enterprise attributes this increase to global energy market disruptions and ongoing insecurity affecting agricultur
Inflation in Nigeria rose to 15.93% in May, up from 15.69% in April, according to the National Bureau of Statistics. Food inflation was recorded at 16.96%, while core inflation stood at 16.82%. The pace of price increases has slowed compared to previous months.
Nigeria's inflation rate rose to 15.93% in May 2026, marking the third consecutive monthly increase. Food prices remain the largest contributor to inflation, with a year-on-year increase of 16.96%. The average inflation rate for the 12 months ending May 2026 stood at 18.36%.
