FX.co ★ Nigeria Inflation Rate Moves Up in March

Nigeria’s annual inflation rate edged up to 15.38% in March 2026 from 15.06% in February, bringing an end to an 11‑month disinflation streak. Food inflation, the largest component of the consumer price basket, accelerated for a second consecutive month, rising to 14.31% from 12.12%. Transport costs increased even more sharply, jumping 16.9% in March compared with 14.7% in February. Core inflation, which excludes volatile items such as agricultural produce and energy, also quickened, reaching 16.21% in March from 15.88% the previous month. On a monthly basis, consumer prices rose by 4.2%—the fastest pace since January 2025—driven largely by transportation costs, which climbed 4% after a 0.3% decline in February.