Nigeria’s annual inflation rate rose for a second straight month to 15.69% in April 2026 from 15.38% in March, reaching its highest level since last November. Food inflation, the largest component of the inflation basket, quickened for the third month to 16.06% from 14.31% in March. This partly reflected the continued pass-through from the March fuel price shock linked to the Middle East conflict. However, the core inflation rate, which strips out the volatile prices of agricultural produce and energy, eased to 15.86% in April from 16.21% in the month before. On a monthly basis, the CPI index advanced by 2.13%, slowing from a 4.18% jump recorded in the prior month.