Nigeria’s persistent inflationary pressures have pushed Africa’s most populous country to the bottom of global quality-of-life rankings.
This comes as Nigerian households and businesses continue to suffer, with the inflation rate rising for the third consecutive month in 2026 to 15.93 percent in May.
The National Bureau of Statistics (NBS), in its Consumer Price Index and inflation report, said headline and food inflation rose to 15.93 percent and 16.96 percent in May from 15.69 percent and 16.09 percent, respectively, recorded in April.
Accordingly, the country’s headline and food inflation increased by 0.24 and 0.87 percentage points, respectively.
NBS data further showed that, on a month-on-month basis, headline and food inflation stood at 1.75 percent and 2.98 percent, respectively.
This means that the country’s inflationary trend has persisted over the last three months. Rising prices of food, transportation, housing, and energy have remained the biggest contributors to the country’s escalating inflation
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