Nigeria’s headline inflation rate is expected to slow further in May 2026 as stable food prices and easing energy shock effects help moderate price pressures, according to projections by the Financial Markets Dealers Association (FMDA).
The dealers’ body forecasts headline inflation at 15.02 percent year-on-year in May, down from 15.89 percent recorded in April, extending the disinflation trend that has emerged since the rebasing of the Consumer Price Index (CPI).
FMDA also expects monthly inflation to moderate significantly to 0.95 percent in May from 2.13 percent in April, reflecting stable domestic food prices and the fading pass-through effects of the Middle East-induced energy shock that intensified earlier in the year.
The forecast comes ahead of the National Bureau of Statistics’ (NBS) release of May inflation data and offers fresh evidence that the aggressive monetary tightening by the Central Bank of Nigeria and improving food supply conditions may be gradually easing
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