Inflation Rises to 15.93%, 10 States Most Expensive To Live in Nigeria
- The NBS has released the latest inflation report for May 2026, and Nigeria’s headline inflation and food inflation rose
- Yobe, Anambra, and Sokoto recorded the highest overall inflation rates, while Adamawa, Kwara, and Rivers led food inflation
- Nigerian households continue to face sustained cost-of-living pressure despite a slowdown in monthly inflation
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s headline inflation rate rose to 15.93% year-on-year in May 2026, up from 15.69% in April, according to the latest data released by the National Bureau of Statistics (NBS).
The report showed that the Consumer Price Index (CPI) increased to 140.7 in May 2026, representing a 2.4-point rise from 138.3 recorded in April.
Source: Getty Images
This reflects continued upward pressure on prices across the economy, despite a slowdown in monthly inflation.
On a month-on-month basis, inflation eased to 1.75% in May 2026, down from 2.13% in April, indicating a slower pace of price increases during the period.
Year-on-year inflation also remained significantly lower than the 26.06% recorded in May 2025, reflecting a broad moderation in price growth compared to last year. The twelve-month average inflation rate stood at 18.36%, down sharply from 30.57% in the corresponding period of 2025.
Urban and rural inflation trends
The NBS report showed that urban inflation stood at 16.07% year-on-year, while rural inflation was slightly lower at 15.60%.
Urban month-on-month inflation rose to 1.99%, while rural inflation slowed to 1.17%, indicating stronger price pressure in cities compared to rural areas during the month.
Food inflation
Food inflation increased by 16.96% year-on-year in May 2026, down from 24.55% in May 2025, according to the NBS.
On a monthly basis, food inflation slowed to 2.98% from 3.63% in April, driven by changes in prices of staples such as onions, maize, yam, cassava products, tomatoes, pepper, ginger, plantain, and cowpeas.
The twelve-month average food inflation rate stood at 16.99%, lower than 33.21% recorded in the previous year.
Core inflation trend
Core inflation, which excludes volatile agricultural produce and energy prices, stood at 16.82% year-on-year, compared to 24.92% in May 2025.
However, on a month-on-month basis, core inflation rose to 1.94%, up from 1.03% in April, suggesting renewed short-term price pressures in underlying goods and services.
Source: Twitter
Inflation hotspots across states
The NBS data also showed wide variations in inflation across the country, with several states recording significantly higher cost pressures than others.
Here is a snapshot
Top 10 states with the highest inflation rates in May 2026
- Yobe – 24.9%
- Anambra – 23.3%
- Sokoto – 22.6%
- Abia – 22.2%
- Bauchi – 22.0%
- Akwa Ibom – 21.5%
- Delta – 21.5%
- Benue – 20.6%
- Enugu – 20.4%
- Zamfara – 20.2%
Top 10 states with the highest food inflation rates in May 2026
- Adamawa – 29.6%
- Kwara – 28.5%
- Rivers – 28.4%
- Enugu – 27.8%
- Bauchi – 25.4%
- Plateau – 24.8%
- Kaduna – 24.0%
- Delta – 23.8%
- Ondo – 23.1%
- Benue – 22.7%
Traders announce new prices for rice, beans
Earlier, Legit.ng reported that Staple food prices across the country are recording sharp increases.
Several traders in Abuja, Taraba, and Kaduna states are taking advantage and have hiked prices of key food items such as rice, beans, maize, and groundnuts.
Some commodities recorded minor declines, including palm oil (25L jerry can), which fell from N70,000 to N53,000, and selected vegetables.
Source: Legit.ng
