Nigeria’s headline inflation accelerated slightly in April 2026, rising to 15.69% year on year from 15.38% in March, as higher food prices kept overall price pressure elevated.
On a monthly basis, inflation eased to 2.13% from 4.18% in March, suggesting some moderation in the pace of price increases even as the annual rate remained stubbornly high.
Food Basket Drives Pressure
The main driver of the uptick was the food basket, which climbed to 16.06% year on year from 14.31% in the prior month. That points to continued strain on household budgets in a market still adjusting to costlier transport, supply disruptions and currency pass-through.
The monthly slowdown does not yet signal a clear disinflation trend, because April’s reading remains well above levels consistent with price stability. For policymakers, the print keeps the focus on food supply conditions and broader cost pressures rather than a quick easing cycle.
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