Nigeria’s inflation jumps to 15.38% in March 2026, says NBS

The National Bureau of Statistics (NBS) on Wednesday disclosed that Nigeria’s headline inflation rate rose to 15.38per cent in March 2026, reflecting a modest increase from the 15.06per cent recorded in February 2026.

According  NBS report, the inflation in its month-on-month basis, consumer prices rose at a faster pace by 4.18 per cent (February: 2.01per cent m/m).

Breaking it down, food inflation jumped by 219bps to 14.31per cent y/y in March (February: 12.12% y/y). 

On a month-on-month basis, food prices rose by 4.17per cent (February: 4.69per cent m/m), primarily due to price increases in the following products: Yam, Ginger (Fresh), Cassava Tuber, Groundnuts (Shelled), Irish Potatoes, Avenger (Ogbono/Apon) – Dried Ungrinded, Toma toes (fresh), Cassava Flour sold loose, etc.

At the same time, core inflation (all items excluding farm produce and energy) increased by 33bps to 16.21per cent y/y in March (February: 15.88per cent y/y). On a month-on-month basis, the core index rose sharply by 4.03per cent (February: 0.89per cent m/m).

More details later…