Nigeria’s inflationary pressures intensified as the headline rate climbed to 15.69 per cent, driven largely by rising food, transport, hospitality and healthcare costs that continue to squeeze household budgets across the country.

Data from the National Bureau of Statistics showed that the Consumer Price Index rose to 138.3 points, up from 135.4 in the previous month, underscoring the broad-based nature of the price increases. Although the annual rate inched higher, the pace of monthly price growth slowed, with headline inflation easing to 2.13 per cent month-on-month from 4.18 per cent.

The bureau noted that this moderation indicates a slower rate of increase in average prices compared with the previous month, but stressed that the overall cost of living remains elevated. Food and non-alcoholic beverages were the single largest driver of inflation, contributing 6.40 percentage points to the headline rate.

Restaurants and accommodation services added 3.56 percentage points, while transport contributed 1.70 percentage points, reflecting higher fares and logistics costs. Health services accounted for 1.21 percentage points, and housing, water, electricity, gas and other fuels added 0.77 percentage points, highlighting persistent pressure on essential services.

Other notable contributors included personal care and miscellaneous goods and services at 0.64 percentage points, education at 0.49 percentage points, clothing and footwear at 0.32 percentage points, and information and communication at 0.28 percentage points.

On a 12‑month average basis, inflation was put at 19.16 per cent, slightly below the 19.33 per cent recorded a year earlier, suggesting a modest easing in longer-term price momentum. Urban inflation stood at 15.40 per cent year-on-year, with a month-on-month rate of 1.86 per cent, while rural inflation was higher at 16.36 per cent year-on-year and 2.80 per cent month-on-month, indicating that rural households are bearing a heavier burden.

Food inflation remained a major concern, rising to 16.06 per cent year-on-year. The NBS linked the increase to higher prices of key staples such as millet, yam flour, beef, garri, yam tubers, fresh pepper, crayfish, cassava, beans, potatoes, tomatoes, wheat, soybeans, guinea corn, plantain and carrots. On a monthly basis, however, food inflation slowed to 3.63 per cent from 4.17 per cent.

Core inflation, which strips out volatile agricultural and energy items, stood at 15.86 per cent year-on-year, with a sharp deceleration in the monthly rate to 1.03 per cent. The bureau cautioned that state-level inflation figures should be interpreted carefully, as consumption patterns and expenditure weights differ across the federation.