Nigeria’s inflation rate rises to 15.3% — first increase in 12 months

Nigeria’s headline inflation rate rose to 15.38 percent in March 2026, marking the first increase in 12 months, according to the National Bureau of Statistics.

The figure represents a rise from 15.06 percent recorded in February 2026. The bureau noted that this is the first uptick since inflation began a downward trend in April 2025.

In its Consumer Price Index report released on Wednesday, the NBS said the inflation rate increased by 0.32 percentage points compared to February.

On a month-on-month basis, inflation stood at 4.18 percent in March, up from 2.01 percent in February, indicating a faster rise in the general price level.

The report also showed that food inflation stood at 14.31 percent year-on-year, lower than the 25.22 percent recorded in March 2025.

However, on a monthly basis, food inflation dropped slightly to 4.17 percent, down from 4.69 percent in February.

According to the bureau, the movement in food prices was driven by changes in the cost of items such as yam, ginger, cassava, groundnuts, Irish potatoes, ogbono, tomatoes, and cassava flour.

State-level data showed that Bayelsa, Sokoto, and Adamawa recorded the highest food inflation rates year-on-year, while Kano, Oyo, and Katsina recorded the slowest rise.

On a month-on-month basis, Sokoto, Niger, and Gombe recorded the highest increases, while Katsina, Ogun, and Adamawa experienced declines in food inflation.