BREAKING: NBS Reports Surge in Nigeria’s Inflation Rate to 15.38%

Nigeria’s headline inflation rate rose to 15.38 per cent in March 2026, up from 15.06 per cent in February, according to the latest Consumer Price Index (CPI) report released on Wednesday by the National Bureau of Statistics (NBS).

The bureau said the increase signals renewed pressure on consumer prices, with the month-on-month inflation rate jumping sharply to 4.18 per cent in March from 2.01 per cent in February, indicating a faster rise in the cost of goods and services across the economy.

According to the report, key drivers of inflation during the period include food and non-alcoholic beverages, restaurants and accommodation services, and transport. However, food inflation eased slightly on a year-on-year basis, falling to 14.31 per cent.

The NBS also noted rising cost pressures in both urban and rural areas, with rural inflation increasing to 17.22 per cent. Several states, including Bayelsa, Sokoto, and Bauchi, recorded some of the highest inflation rates nationwide.

More to follow…