Nigeria Inflation at 15.69% in April 2026

Nigeria's headline inflation rate climbed to 15.69 percent in April 2026, the National Bureau of Statistics reported Friday, surpassing analyst forecasts amid ongoing fallout from the Middle East conflict that has driven up energy and food prices. The month-on-month increase stood at 2.13 percent, with food inflation reaching 16.06 percent year-on-year. Key contributors included rises in prices for millet, yam flour, fresh ginger, beef, garri, fresh peppers, crayfish, cassava, beans, Irish potatoes, fresh tomatoes, loose wheat grain, soya beans, guinea corn, plantain and fresh carrots. The average annual food inflation rate over the 12 months ending April eased to 17.55 percent from 34.60 percent a year earlier.

The inflationary pressures stem partly from global energy shocks tied to the Iran war that began in late February, which have disrupted exchange rate stability and stoked food costs. Analysts at Coronation Research had projected 15.95 percent headline inflation, viewing the actual figure as a sign of underlying disinflation that could influence the Central Bank of Nigeria's Monetary Policy Committee. The MPC, which cut the policy rate by 50 basis points to 26.5 percent...