Figures cited by **TheCable** show that Nigeria’s headline inflation rate has risen to 15.38% for the month of March, marking the first upward tick after 12 consecutive months of decline. The National Bureau of Statistics (NBS) attributed the 0.32% increase from February to rising costs in transport and food items, particularly in urban centers.
Despite the year-on-year inflation being significantly lower than the 27.3% recorded in 2025, the sudden reversal has sparked concerns about the impact of recent fuel price adjustments. Food inflation specifically remains a pressure point, standing at over 14% as the planting season begins amidst security challenges in the food basket states.
**The News Agency of Nigeria (NAN)** noted that “the rural inflation rate was significantly higher at 17.22%, reflecting the higher cost of moving goods to remote areas.” **BusinessDay** analyzed the trend, stating that “analysts see this as a ripple effect of the Iran-Israel tensions affecting global fuel and fertilizer prices.”
**Echotitbits take:** The honeymoon period of declining inflation is over. The CBN will likely stay hawkish with interest rates in their next meeting. Watch for the April figures; if the trend continues, the “cost of living” protests could potentially see a revival.
Source: TheCable, April 22, 2026
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