Nigeria’s headline inflation rate rose to 15.69 per cent in April 2026, up from 15.38 per cent recorded in March, reflecting a 0.31 percentage point increase, according to the National Bureau of Statistics (NBS).
According to the data released on Friday, Consumer Price
Index (CPI) stood at 138.3 in April, marking a 2.9-point increase from 135.4 in
March. The NBS said the increase followed the agency’s recent rebasing to a
2024 base year with 2023 as the weight reference period.
Despite the uptick in the annual rate, the bureau stated
that the pace of price increases slowed, with month-on-month inflation easing
to 2.13 per cent in April from 4.18 per cent in March.
The NBS data also shows a sharp moderation when compared
with April 2025, when headline inflation was significantly higher at 26.82 per
cent.
“The National Bureau of Statistics is pleased to announce
the release of the latest Consumer Price Index (CPI) figures for April 2026.
Following the completion of the recent rebasing exercise, this report is
centred on a new CPI base year of 2024 and a weight reference period of 2023.
Hence, the Consumer Price Index (CPI) increased to 138.3 in April 2026, and
reflects a 2.9-point increase from the preceding month.
“On a year-on-year basis, the headline inflation rate for
April 2026 stood at 15.69%, when compared to 15.38% and 26.82% recorded in
March 2026 and April 2025; respectively. The month-on-month headline inflation
rate in April 2026 was 2.13%, which was 2.05% lower than the rate recorded in
March 2026 (4.18%),” the NBS stated.
At the divisional level, price pressures were driven mainly
by Food and non-alcoholic beverages, restaurants and accommodation services,
and transport, while recreation, alcohol and tobacco, and insurance recorded
minimal impact.
“The three major contributors to the headline inflation were
Food and non-alcoholic Beverages: 6.40%, Restaurants & Accommodation
Services: 3.56%, and Transport: 1.70%; while the least contributors were
Recreation, Sport, and Culture: 0.01%, Alcoholic Beverages, Tobacco, and
Narcotics: 0.01%, and Insurance and Financial Services: 0.03%,” the bureau
added.
It also said food inflation stood at 16.06 per cent
year-on-year in April, lower than 24.68 per cent recorded in the same period
last year, while the monthly rate slowed to 3.63 per cent from 4.17 per cent in
March, reflecting softer increases across key staples.
The statistics bureau further said core inflation, which
excludes volatile agricultural produce and energy, came in at 15.86 per cent
year-on-year, with the monthly rate dropping sharply to 1.03 per cent from 4.03
per cent in March.
Across locations, it noted that urban inflation stood at
15.40 per cent year-on-year, while rural inflation was higher at 16.36 per
cent, with both segments recording slower monthly increases compared to March.
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