Nigeria’s Inflation Rate Climbs to 15.69% in April Despite Slower Price Growth

|By Adejumo Adekunle

Nigeria’s inflation rate edged higher 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).

The new figures represent a 0.31 percentage point increase year-on-year, signalling that the overall cost of goods and services remained higher across the country.

However, the report also showed that the pace of price increases slowed on a month-on-month basis, suggesting a gradual easing of inflationary pressure in the economy.

According to the NBS, month-on-month headline inflation dropped sharply to 2.13 per cent in April from 4.18 per cent 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 stated.

The statistics agency noted that although inflation remains elevated, the latest data points to a moderation in the speed of rising prices nationwide.

On a 12-month average basis, headline inflation stood at 19.16 per cent in the period ending April 2026, slightly below the 19.33 per cent recorded during the corresponding period in 2025.

A breakdown of the report revealed contrasting inflation patterns between urban and rural areas.

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

The 12-month average urban inflation rate stood at 19.07 per cent, compared to 20.76 per cent recorded in April last year.

In rural communities, inflation remained higher at 16.36 per cent year-on-year, reflecting persistent cost pressures outside major cities.

Despite that, rural month-on-month inflation fell significantly to 2.80 per cent in April from 6.73 per cent recorded in March.

The 12-month average rural inflation rate rose to 18.99 per cent, higher than the 17.63 per cent posted during the same period in 2025.