The National Bureau of Statistics (NBS) has stated that Nigeria’s headline inflation rate has risen to 15.93 percent in May 2026.
The NBS announced the increase in its consumer price index (CPI) report on Monday. The latest record marks the third consecutive increase in 2026.
“In May 2026, the headline inflation rate on a month-on-month basis was 1.75%, which was 0.39% lower than the rate recorded in April 2026 (2.13%).
“This means that in May 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in April 2026.”
FOOD INFLATION RATE ROSE SLIGHTLY TO 16.9%
Additionally, according to NBS, the annual rate of food inflation in May 2026 was 16.96 percent, up from 16.68 percent in April.
The data also shows that the inflation rate fell below the 24.55 percent recorded during the corresponding period last year.
BACKSTORY…
This comes as CBN is waging an aggressive battle behind the scenes to safeguard the value of the local currency. Fresh operational data reveals that the Central Bank of Nigeria (CBN) executed a massive cash mop-up, pulling a staggering N6.88 trillion out of the financial system in just the first two weeks of June.
“However, on a month-on-month basis, the Headline inflation rate in March 2026 was 4.18%, which was 2.17% higher than the rate recorded in February 2026 (2.01%),” NBS said.
“This means that in March 2026, the rate of increase in the average price level was higher than the rate of increase in the average price level in February 2026.”
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