April 15, (THEWILL) —
Nigeria’s headline inflation rate rose to 15.38 percent in March 2026, up from 15.06 percent recorded in February, according to the latest data from the National Bureau of Statistics (NBS).
The increase signals renewed pressure on consumer prices, with the month-on-month inflation rate climbing sharply to 4.18 percent in March from 2.01 percent in February, reflecting a faster pace of price increases across the economy.
On a year-on-year basis, headline inflation rose by 0.32 percentage points, while the 12-month average climbed to 20.05 percent, compared to 18.58 percent in March 2025. The data suggests that although annual inflation remains lower than last year’s levels, short-term price pressures are intensifying.
Key drivers of inflation included Food and Non-Alcoholic Beverages (5.55 percent ), Restaurants and Accommodation Services (3.26 percent ), and Transport (1.80 percent ). In contrast, Recreation, Sport and Culture, alongside Alcoholic Beverages and Financial Services, recorded minimal contributions.
Urban inflation stood at 14.64 percent year-on-year, while rural inflation was higher at 17.22 percent. On a monthly basis, rural inflation surged significantly to 6.73 percent, compared to 0.71 percent in February, highlighting stronger price pressures in rural areas.
Food inflation moderated to 14.31 percent year-on-year, down from 25.22 percent in March 2025, while core inflation rose to 16.21 percent. However, both food and core categories recorded higher month-on-month increases.
Overall, the figures point to easing annual inflation but rising short-term cost pressures across the economy.
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.
