Nigeria’s inflation rate edged higher in March 2026 to 15.38%, according to the latest data released by the National Bureau of Statistics.
The Consumer Price Index (CPI), which measures the average change in prices of goods and services, rose to 135.4 in March, marking a 5.4-point increase from 130.0 recorded in February. The headline inflation rate climbed to 15.38% in March, up from 15.06% in the previous month.
https://x.com/NBS_Nigeria/status/2044413705983578455
ADVERTISEMENT
In March 2026, the Headline inflation rate rose to 15.38%, up from 15.06% in February 2026 and stood 27.35% in the same month of the preceding year (March 2025). Looking at the movement, the March 2026 Headline inflation rate showed an increase of 0.32% compared to the February 2026 Headline inflation rate.
However, on a month-on-month basis, the Headline inflation rate in March 2026 was 4.18%, which was 2.17% higher than the rate recorded in February 2026 (2.01%). This means that in March 2026, the rate of increase in the average price level was higher than the rate of increase in the average price level in February 2026.
The Food inflation rate in March 2026 was 14.31% on a year-on-year basis and stood at 25.22% in the same month of the preceding year (March 2025). However, on a month-on-month basis, the Food inflation rate in March 2026 was 4.17%, down 0.52 percentage points from February 2026 (4.69%).
This can be attributed to the rate of change in the average prices of the following products: Yam, Ginger (Fresh), Cassava Tuber, Groundnuts (Shelled), Irish Potatoes, Avenger (Ogbono/Apon) – Dried Ungrinded, Tomatoes (fresh), Cassava Flour sold loose, etc.
The average annual rate of Food inflation for the twelve months ending March 2026 over the previous twelve-month average was 18.21%, which was 17.81% points lower compared with the average annual rate of change recorded in March 2025 (36.02%).
On a year-on-year basis, in March 2026, the Urban inflation rate was 14.64%. On a month-on-month basis, the Urban inflation rate was 3.16% in March 2026, up by 0.61% compared to February 2026 (2.55%). The corresponding twelve-month average for the Urban inflation rate was 20.04% in March 2026. This was 0.06% points lower compared to the 20.10% reported in March 2025.
The Rural inflation rate in March 2026 was 17.22% on a year-on-year basis. On a month-on-month ba sis, the Rural inflation rate in March 2026 was 6.73%, up by 6.02% compared to February 2026 (0,71%). The corresponding twelve-month average for the Rural inflation rate in March 2026 was 19.74%. This was 2.93% points higher compared to the 16.81% recorded in March 2025.
