May 15, (THEWILL) — Nigeria’s headline inflation rate rose to 15.69 percent in April 2026, up from 15.38 percent recorded in March, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The new figure represents a 0.31 percentage point increase, indicating that consumer prices continued to edge higher during the month despite signs that the pace of price increases may be moderating.
However, on a year-on-year basis, inflation remains significantly lower than the 26.82 percent recorded in April 2025, suggesting that overall price pressures have eased considerably compared with the peak inflationary environment seen last year.
Data from the CPI report also shows that month-on-month inflation slowed sharply to 2.13 percent in April, down from 4.18 percent in March, marking a 2.05 percentage point decline. The slowdown suggests that although prices remain elevated, the speed at which they are rising has moderated in the short term.
The latest data highlights a mixed inflation trajectory, where the headline rate continues to tick upward while short-term price momentum shows signs of easing. Economists often view this divergence as a potential signal that inflation may be approaching a stabilisation phase, even as underlying cost pressures persist.
The inflation update comes amid continued tight monetary policy measures by the Central Bank of Nigeria, which has maintained an aggressive stance to anchor inflation expectations and support currency stability.
Market participants, policymakers and investors are expected to closely assess the underlying drivers of the latest inflation print, particularly movements in food, energy and core inflation components.
More details from the CPI breakdown, including food inflation, core inflation, and regional price trends, are expected shortly.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
