Nigeria’s inflation rate rose to 15.38 per cent in March 2026, marking a reversal of the recent downward trend and signalling renewed pressure on consumer prices.
The latest figures released by the National Bureau of Statistics showed an increase from 15.06 per cent recorded in February, indicating a marginal but notable uptick in headline inflation.
On a month on month basis, inflation surged sharply to 4.18 per cent, more than double the 2.01 per cent recorded in the previous month, highlighting a faster pace of price increases within a short period.
Further analysis of the data showed that the Consumer Price Index rose to 135.4 points in March, up from 130.0 in February, reflecting the broad increase in the cost of goods and services.
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Core inflation, which excludes volatile items such as food and energy, stood at 16.21 per cent year on year, suggesting that underlying price pressures remain persistent across the economy.
A breakdown of inflation trends revealed disparities between urban and rural areas. Urban inflation stood at 14.64 per cent, while rural inflation was higher at 17.22 per cent, indicating stronger cost pressures in rural communities.
Despite the increase, the current inflation rate remains significantly lower than the 27.35 per cent recorded in March 2025, pointing to an overall easing in year on year terms.
However, analysts note that the sharp rise in monthly figures suggests that households are still facing rising costs, particularly in food, transportation and other essential services.
The latest data underscores a mixed inflation outlook, where annual figures show moderation but short term price pressures continue to weigh on consumers and the broader economy.
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