Inflation climbs to 15.93%

James Emejo in Abuja

The National Bureau of Statistics (NBS) reported on Monday that the Consumer Price Index (CPI), which tracks changes in the prices of goods and commodities, rose to 15.93 % in May, up from 15.69 % in April.

On a month‑on‑month basis, headline inflation fell to 1.75 % in May from 2.13 % in April, showing that while prices remained on the rise, the rate of increase slowed.

Year‑on‑year, food inflation was 16.96 % in May, down from 24.55 % in May 2025. Month‑on‑month, food inflation eased to 2.98 % from 3.63 % in April, indicating a slower rise in food prices during the period.

Core inflation, which excludes volatile agricultural and energy prices, was 16.82 % year‑on‑year in May, down from 24.92 % in May 2025. Month‑on‑month, core inflation increased to 1.94 % from 1.03 % in April, indicating renewed pressure from non‑food items. Urban inflation was 16.07 % year‑on‑year in May, and month‑on‑month urban inflation rose to 1.99 % from 1.86 % in April.

Rural inflation was 15.60 % year‑on‑year in May. Month‑on‑month, the rural index fell to 1.17 % from 2.80 % in April.