Nigeria Inflation Forecast – April 2026

Global & regional inflation backdrop

• Inflation pressures strengthened further across major economies in April 2026, reflecting higher global energy and production costs linked to lingering geopolitical tensions in the Middle East. In the United States, inflation increased to 3.8 percent from 3.3 percent, while the Euro Area rose to 3.0 percent from 2.6 percent, driven largely by rising energy prices and broader cost pressures.
• Across African economies, inflation trends also remained tilted to the upside. Kenya’s inflation accelerated to 5.6 percent from 4.4 percent, while Ghana recorded a modest increase to 3.4 percent from 3.2 percent. Overall, 72 percent of tracked countries recorded higher inflation in April, up from 67 percent in March.

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