By Chiagoziem Abosi
Edited by Bababunmi Agbebi
For the third consecutive month in 2026, Nigeria’s inflation rate has risen, highlighting the continued pressure many households face despite signs that the pace of price increases may be slowing.
According to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics, the country’s headline inflation rate increased from 15.69 percent in April to 15.93 percent in May 2026. This marks the third straight monthly rise after inflation fell to 15.06 percent in February.
The report showed that while prices are still rising, they are increasing at a slower pace compared to earlier months. Month-on-month inflation stood at 1.75 percent in May, lower than the 2.13 percent recorded in April.
Food remains one of the biggest drivers of inflation. Food inflation rose to 16.96 percent in May from 16.68 percent in April, with increases recorded in the prices of tomatoes, onions, pepper, maize, yam, cassava products, plantain, and other staple foods consumed by millions of Nigerians.
Transport costs and restaurant services also contributed significantly to the increase in the overall inflation rate.
For many residents of Ikeja, the figures simply confirm what they already experience daily.
From higher market prices to increased transportation expenses, many households continue to adjust their spending habits as the cost of living remains elevated.
Small business owners, food vendors, transport operators, and salary earners are among those most affected, as rising operating costs often translate into higher prices for consumers.
Economists say the lower month-on-month inflation figure offers a small sign of relief, suggesting that while prices are still increasing, they are not rising as rapidly as before. However, many Nigerians are unlikely to feel immediate relief until food and transportation costs begin to stabilize.
As the government continues efforts to manage inflation and stimulate economic growth, households across the country will be watching closely to see whether the coming months bring meaningful reductions in the cost of living.
