BREAKING: Nigeria’s inflation rate climbs to 15.93% in May – NBS

Nigeria’s headline inflation rate increased to 15.93 percent in May 2026, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).

The figure represents a rise from the 15.69 percent recorded in April 2026, marking the third consecutive monthly increase this year. However, the rate is significantly lower than the 26.06 percent recorded in May 2025.

“On a year-on-year basis, the headline inflation rate rose to 15.93%, up from 15.69% in April 2026 and down from 26.06% in the same month of the preceding year (May 2025),” the NBS stated.

The report further noted that the May 2026 inflation rate showed a 0.24 percentage point increase compared to April 2026.

On a month-on-month basis, the headline inflation rate stood at 1.75 percent in May 2026, reflecting a decline of 0.39 percentage points from the 2.13 percent recorded in April.

“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,” the bureau added.

Despite the slower pace of monthly price increases, the continued upward trend in headline inflation highlights persistent cost pressures in the economy.

The CPI measures the average change over time in the prices of goods and services consumed by people for day-to-day living and remains a key indicator for assessing inflation trends in Nigeria.