Nigeria’s headline inflation rate climbed to 15.38 per cent in March 2026, up from 15.06 per cent recorded in February.
This is according to the latest data released by the National Bureau of Statistics on Wednesday.
The latest data shows that while inflation remains lower than previous year levels, short-term price increases are accelerating.
The NBS data shows a moderate increase in headline inflation alongside stronger monthly price growth.
Headline inflation rose by 0.32 percentage points from 15.06% in February to 15.38% in March.
On a month-on-month basis, inflation stood at 4.18%, up from 2.01% in February.
The twelve-month average inflation rate increased to 20.05%, compared to 18.58% in March 2025.
Urban inflation stood at 14.64% year-on-year, while rural inflation was higher at 17.22%.
The data indicates that the pace of price increases accelerated in March compared to the previous month.
March’s inflation data comes amid heightened global economic uncertainty driven by geopolitical tensions.
Breakdowns of inflation components reveal mixed trends across food and core categories.
Food inflation stood at 14.31% year-on-year, significantly lower than 25.22% recorded in March 2025.
On a monthly basis, food inflation declined slightly to 4.17% from 4.69% in February.
Core inflation rose to 16.21% year-on-year but declined sharply from 27.12% in March 2025.
Month-on-month core inflation increased to 4.03% from 0.89% in February.
The changes reflect easing annual pressures but rising short-term price momentum.
Additional inflation indicators show continued divergence between urban and rural price trends.
Urban month-on-month inflation rose to 3.16% from 2.55% in February.
Rural month-on-month inflation surged to 6.73% from 0.71%.
The twelve-month average for rural inflation increased to 19.74%, higher than 16.81% in March 2025.
