Nigeria’s inflation ticked up to 15.69 percent in April 2026, a modest rise from 15.38 percent recorded in March, according to the National Bureau of Statistics (NBS) Consumer Price Index (CPI) release on Friday. The year‑on‑year increase of 0.31 percentage points shows that overall price levels remain elevated, but the month‑on‑month data point to a cooling of inflationary pressure.
The NBS reported headline inflation of 2.13 percent for April on a month‑on‑month basis, down sharply from the 4.18 percent seen in March. “This means that in April the rate of increase in the average price level was lower than in March,” the bureau explained, indicating a slowdown in the pace at which prices are rising across the economy.
When averaged over the preceding twelve months, the headline inflation rate fell to 19.16 percent, marginally below the 19.33 percent recorded for the same period a year earlier. The report highlighted divergent trends between urban and rural areas.
Urban inflation eased to 15.40 percent year‑on‑year in April, with a month‑on‑month rise of 1.86 percent, down from 3.16 percent in March. The 12‑month urban average stood at 19.07 percent, lower than the 20.76 percent recorded in April 2025. Rural inflation remained higher at 16.36 percent year‑on‑year, but month‑on‑month inflation dropped dramatically to 2.80 percent from 6.73 percent in March. The rural 12‑month average rose to 18.99 percent, up from 17.63 percent a year earlier.
While the figures confirm that inflation is still high, the slowdown in monthly price growth suggests that underlying pressures may be easing. Analysts note that continued vigilance is required, as persistent cost increases could affect household purchasing power and broader economic stability.
The NBS is expected to publish the next CPI report in May, which will shed further light on whether the current deceleration is sustained and how it might influence monetary policy decisions by the Central Bank of Nigeria.
