Inflation Jumps to 15.93% in May as Food Costs Bite – NBS
Nigeria’s headline inflation rate rose to 15.93% in May, marking the third consecutive monthly increase. The National Bureau of Statistics says the Consumer Price Index moved from 138.3 in April to 140.7 in May. Food and non-alcoholic beverages remain the biggest driver, contributing 6.38 percentage points to the annual rate. Other key contributors include transport, restaurants and accommodation, and housing, water, electricity and gas. Core inflation, which strips out volatile food and energy prices, hit 16.82% year-on-year as underlying price pressures strengthened. Urban inflation stood at 16.07%, while rural inflation eased slightly to 15.60%. Despite easing from last year’s peak of 26.06% in May 2025, consumer prices continue to climb, reflecting persistent pressures on household budgets across the country.
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