The image showcases Nigeria’s urban financial hub with tall buildings and vibrant city life.
Nigeria’s headline inflation climbed to 15.93% in May 2026, up from 15.69% in April, according to the National Bureau of Statistics, reflecting continued pressure on consumers despite a slower pace of monthly price increases. The increase was driven primarily by food price movements, including rising costs for staples such as onions, maize, tomatoes, yams, and cassava flour. However, several longer-term indicators showed improvement. First, month-on-month inflation eased to 1.75% from 2.13% in April, suggesting some moderation in the pace of price increases. Second, year-on-year comparisons show a drop in average annual food inflation for the 12 months ending May 2026. Nevertheless, external pressures continue to weigh on domestic prices, with the World Bank Energy Index and the FAO Food Price Index both rising.
Nairametrics