Nigeria’s inflation rate increased marginally in April 2026, rising to 15.69 per cent from 15.38 per cent recorded in March, according to the latest Consumer Price Index, CPI, report released by the National Bureau of Statistics, NBS, on Friday.

 

 

The data showed a 0.31 percentage point year-on-year increase, indicating that the general price level of goods and services remained higher compared to the previous month.

 

However, the report also pointed to a slowdown in price increases on a month-on-month basis, suggesting a gradual easing in the pace of inflationary pressure.

 

 

According to the NBS, month-on-month headline inflation stood at 2.13 per cent in April 2026, down significantly from 4.18 per cent recorded in March.

 

“This means that in April 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in March 2026,” the bureau explained.

 

 

The statistics agency noted that although inflation remains elevated, the latest figures reflect a moderation in the speed of price increases across the economy.

 

On a 12-month average basis, the headline inflation rate for the period ending April 2026 was 19.16 per cent, slightly lower than the 19.33 per cent recorded in the corresponding period of 2025.

 

A breakdown of the report showed mixed inflation trends between urban and rural areas.

 

Urban inflation stood at 15.40 per cent year-on-year in April 2026, while month-on-month urban inflation eased to 1.86 per cent from 3.16 per cent in March.

 

The 12-month average urban inflation rate was 19.07 per cent, compared to 20.76 per cent recorded in April 2025.

 

In rural areas, inflation was higher at 16.36 per cent year-on-year, reflecting continued cost pressures outside major cities.

 

However, rural month-on-month inflation dropped sharply to 2.80 per cent in April, down from 6.73 per cent in March.

 

The 12-month average rural inflation rate stood at 18.99 per cent, higher than the 17.63 per cent recorded in the same period last year.