April inflation climbs to 15.69% (updated)

By Progress Godfrey

In April 2026, Nigeria’s headline inflation rate climbed to 15.69 percent, a rise of 0.31 percentage point from the 15.38 percent recorded in March, according to the National Bureau of Statistics (NBS).

The NBS released data showing the Consumer Price Index (CPI) at 138.3 in April, up 2.9 points from 135.4 in March. The increase follows the agency’s recent rebasing to a 2024 base year, using 2023 as the weight reference period.

Although the annual rate rose, the month‑on‑month inflation rate slowed, falling to 2.13 percent in April from 4.18 percent in March.

Compared with April 2025, when headline inflation reached 26.82 percent, the current figure represents a sharp moderation.

“The National Bureau of Statistics is pleased to announce the release of the latest Consumer Price Index (CPI) figures for April 2026. Following the completion of the recent rebasing exercise, this report is centred on a new CPI base year of 2024 and a weight reference period of 2023. Hence, the Consumer Price Index (CPI) increased to 138.3 in April 2026, and reflects a 2.9‑point increase from the preceding month.”

“On a year‑on‑year basis, the headline inflation rate for April 2026 stood at 15.69%, when compared to 15.38% and 26.82% recorded in March 2026 and April 2025; respectively. The month‑on‑month headline inflation rate in April 2026 was 2.13%, which was 2.05% lower than the rate recorded in March 2026 (4.18%),” the NBS stated.

At the divisional level, price pressures were primarily driven by Food and non‑alcoholic beverages, Restaurants and Accommodation Services, and Transport. Recreation, Alcohol and Tobacco, and Insurance had minimal impact.

“The three major contributors to the headline inflation were Food and non‑alcoholic Beverages: 6.40%, Restaurants & Accommodation Services: 3.56%, and Transport: 1.70%; while the least contributors were Recreation, Sport, and Culture: 0.01%, Alcoholic Beverages, Tobacco, and Narcotics: 0.01%, and Insurance and Financial Services: 0.03%,” the bureau added.

Food inflation stood at 16.06 percent year‑on‑year in April, lower than the 24.68 percent recorded in the same period last year. The monthly rate also slowed to 3.63 percent from 4.17 percent in March, indicating softer increases in key staples.

Core inflation, which excludes volatile agricultural produce and energy, was 15.86 percent year‑on‑year, with the monthly rate dropping sharply to 1.03 percent from 4.03 percent in March.

Across locations, urban inflation was 15.40 percent year‑on‑year, while rural inflation was higher at 16.36 percent. Both segments recorded slower monthly increases compared to March.

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