Nigeria’s inflation rate recorded a fresh uptick in March 2026, rising to 15.38 per cent from 15.06 per cent in February, the latest Consumer Price Index (CPI) report released on Wednesday by the National Bureau of Statistics (NBS) has shown.
The new figures point to renewed pressure on consumer prices, with the month-on-month inflation rate accelerating significantly to 4.18 per cent in March, compared to 2.01 per cent recorded in the previous month. This sharp increase signals a faster pace of price growth across the economy.
According to the NBS, key contributors to the inflation surge included food and non-alcoholic beverages, restaurants and accommodation services, as well as transport costs. Despite these increases, food inflation showed a slight moderation on a year-on-year basis, settling at 14.31 per cent.
The report further revealed that inflationary pressures remained pronounced across both urban and rural areas. Rural inflation rose to 17.22 per cent, underscoring the deepening impact of rising costs outside major cities.
At the state level, Bayelsa, Sokoto, and Bauchi emerged among those with the highest inflation rates during the period under review.
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