Nigeria’s inflation rate rose to 15.93% in May 2026, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s inflation rate increased by 24basis points to 15.93 per cent in May 2026 from 15.69 per cent reported in April 2026.
On the other hand, on a month-on-month basis, growth in consumer prices slowed to 1.75per cent, compared with 2.13per cent m/m recorded in April.
According to NBS report, food inflation rose by 90basis points to 16.96per cent in May (April: 16.06per cent ).
On a month-on-month basis, food prices rose at a slower pace, increasing by 2.98per cent (April: 3.63per cent m/m), primarily due to slower price increases of Onions (Fresh), Maize (Corn) grains, Melon (Egusi), Water Yam, Cassava Flour, Crayfish, Pepper (Fresh), Tomatoes (Fresh), Wheat Grain, Cassava Tuber, Yam Tuber, Sweet Potatoes, Ginger (Fresh), Plantain, Cow Pea, etc.
Elsewhere, core inflation (all items excluding farm produce and energy) edged higher by 97basis points to 16.82per cent y/y in May (April: 15.86per cent ).
On a month-on-month basis, the core index increased by 1.94per cent (April: 1.03per cent m/m).
