Nigeria’s inflation rate increased to 15.69 per cent in April 2026, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The new figure represents a 0.31 percentage point rise from the 15.38 per cent recorded in March 2026.
The NBS disclosed that the CPI rose to 138.3 points in April from 135.4 points in March, reflecting a 2.9-point increase. The bureau attributed the adjustment to the recently rebased CPI structure, which now uses 2024 as the base year and 2023 as the reference period for weights.
Despite the increase in the annual inflation figure, the report showed that the pace of price growth slowed on a month-on-month basis. Inflation eased to 2.13 per cent in April from 4.18 per cent recorded in March.
Compared with April 2025, when inflation stood at 26.82 per cent, the latest data indicates a significant moderation in price pressures.
According to the NBS, the major contributors to headline inflation in April were food and non-alcoholic beverages, restaurants and accommodation services, as well as transportation.
The bureau stated that food and non-alcoholic beverages contributed 6.40 per cent, restaurants and accommodation services accounted for 3.56 per cent, while transport contributed 1.70 per cent to the inflation rate.
Meanwhile, recreation, sports and culture, alcoholic beverages, tobacco and narcotics, alongside insurance and financial services, had the least impact on inflation during the period under review.
The report also revealed that food inflation stood at 16.06 per cent year-on-year in April, lower than the 24.68 per cent recorded in April 2025. On a monthly basis, food inflation slowed to 3.63 per cent from 4.17 per cent in March, indicating softer price increases across major food items.
Core inflation, which excludes volatile agricultural produce and energy prices, was recorded at 15.86 per cent year-on-year. Its month-on-month rate also dropped sharply to 1.03 per cent from 4.03 per cent in March.
Across regions, urban inflation was recorded at 15.40 per cent year-on-year, while rural inflation came in higher at 16.36 per cent, with both areas experiencing slower monthly increases compared to the previous month.
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