Nigeria’s Inflation Rate – May 2026

Key Highlights on Inflation figure in May 2026

• Nigeria’s headline inflation increased to 15.93% year-on-year in May 2026, from 15.69% in April, marking the third consecutive monthly increase in the annual inflation rate.
• Month-on-month inflation, however, declined in line with to 1.75%, from 2.13% in April, suggesting that while inflationary pressures remained elevated, the pace of price acceleration moderated during the month.
• Food inflation remained elevated, with food prices increasing to 16.96% year-on-year, driven by higher prices of key commodities such as 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,, according to NBS data.
• Core inflation also pickup up on a month-on-month basis to 1.94%, from 1.03% in April. This indicates that inflationary pressures remain broad-based beyond food and continue to reflect lingering energy related cost pressures.

Kindly download the full report here