Nigeria’s headline inflation rose to 15.93 per cent in May 2026, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday, June 15, 2026, signalling continued pressure on consumer prices despite a slowdown in monthly gains.
The CPI increased to 140.7 in May from 138.3 in April 2026, a 2.4-point rise reflecting a further climb in overall price levels.
Month-on-month inflation eased to 1.75 per cent in May from 2.13 per cent in April, indicating a slower pace of price increases during the period.
On a year-on-year basis, inflation rose from 15.38 per cent in March to 15.69 per cent in April and 15.93 per cent in May 2026, marking a third straight monthly increase, though still below the 26.06 per cent recorded in May 2025.
Average inflation for the 12 months ending May 2026 stood at 18.36 per cent, down from 30.57 per cent in the corresponding period of 2025.
Food remained the main driver, contributing 6.38 percentage points, followed by restaurants and accommodation (2.06), transport (1.70), housing, water, electricity, gas and other fuels (1.34), education (0.99) and health (0.97).
Clothing and footwear contributed 0.80 points, while information and communication and personal care each added 0.52 points.
Food inflation stood at 16.96 per cent year-on-year in May 2026, down from 24.55 per cent in May 2025. Monthly food inflation eased to 2.98 per cent from 3.63 per cent.
READ ALSO: FG Admits Inflation, Insecurity Persist, Defends Tinubu’s Reforms Ahead of 2027
The NBS linked food price pressure to staples such as onions, maize, yam, cassava, pepper, tomatoes and grains.
Core inflation rose to 16.82 per cent year-on-year from 24.92 per cent in May 2025, while month-on-month it increased to 1.94 per cent from 1.03 per cent.
Urban inflation stood at 16.07 per cent, while rural inflation was 15.60 per cent. Monthly urban inflation rose to 1.99 per cent, while rural inflation slowed to 1.17 per cent.
Services inflation was 17.92 per cent year-on-year and 2.84 per cent month-on-month. Imported food inflation stood at 14.60 per cent, goods inflation at 6.62 per cent, and energy inflation at 5.73 per cent.
At state level, Yobe recorded the highest inflation at 24.94 per cent, followed by Anambra at 23.29 per cent and Sokoto at 22.60 per cent. Niger posted the lowest at 3.07 per cent.
On a monthly basis, Benue recorded the highest rise at 8.23 per cent, while Niger fell by 4.55 per cent.
Food inflation also varied sharply, peaking in Adamawa at 29.62 per cent, with Borno recording a 6.53 per cent food deflation. Monthly food inflation was highest in Bauchi at 7.73 per cent, while Niger, Katsina and Gombe recorded declines.
The report points to persistent inflationary pressure despite signs of easing momentum in monthly price growth.