Nigeria inflation rises to 15.69% in April 2026, according to the latest Consumer Price Index report released by the National Bureau of Statistics (NBS). The figure shows a slight increase from 15.38% recorded in March, signaling that price pressures are still weighing on households despite signs of easing momentum in some parts of the economy.
The NBS data revealed that while inflation rose year-on-year by 0.31 percentage points, month-on-month inflation actually slowed sharply to 2.13% in April from 4.18% in March. This suggests that although prices are still climbing, the speed of increases is beginning to moderate compared to the previous month.
A deeper breakdown shows mixed trends across key segments of the economy. Food inflation rose to 16.06% year-on-year, driven by higher costs of staples such as yam flour, beans, garri, tomatoes, beef, millet, and plantain. Urban inflation stood at 15.40%, while rural areas experienced higher pressure at 16.36%. Core inflation, which excludes volatile food and energy prices, also eased significantly to 15.86% from 26.05% in April 2025.
On the global front, rising commodity prices are adding external pressure. Crude oil jumped to $120.4 per barrel in April, while global food and energy indices also climbed, reflecting supply disruptions and geopolitical tensions. Inflation is also trending upward in other economies, including the United States, Euro Area, Kenya, and Ghana, reinforcing concerns about broader global inflation persistence.
Looking ahead, the new inflation data is expected to influence discussions at the Central Bank of Nigeria’s upcoming Monetary Policy Committee meeting. With the Monetary Policy Rate recently adjusted to 26.5%, policymakers are under pressure to balance inflation control with economic growth as markets watch closely for the next direction in monetary policy.
source: nairametrics