Nigeria’s headline inflation rate increased to 15.38 percent in March 2026, up from 15.06 percent in February, according to the latest data from the National Bureau of Statistics (NBS). On a month-on-month basis, the headline inflation rate stood at 4.18 percent.
The rise in overall inflation was accompanied by a significant increase in food inflation, which climbed to 14.31 percent in March from 12.12 percent in February. Month-on-month, food inflation rose by 4.17 percent.
The NBS report highlights continued upward pressure on prices, driven largely by higher costs for essential food items. This trend reflects ongoing challenges in Nigeria’s economy, including currency depreciation, supply chain disruptions, and rising energy costs.
The persistent inflation is likely to further strain household purchasing power, particularly for low- and middle-income families who spend a larger share of their income on food. Policymakers may face increased pressure to implement measures to stabilize prices and support economic growth.
Analysts will be closely watching upcoming inflation data to assess whether this uptick signals a sustained upward trend or a temporary fluctuation. The central bank’s monetary policy stance and government interventions will be key factors in shaping the inflation trajectory in the coming months.
