FX.co ★ Nigeria’s Food Inflation Accelerates to 16.96% YoY in May 2026

Nigeria’s food inflation quickened in May 2026, with the year-over-year rate rising to 16.96% from 16.06% in April, according to data updated on 15 June 2026. The latest figure underscores mounting price pressures on households, as food costs continue to climb compared with the same period a year earlier.

The figures are calculated on a year-over-year basis, with the May reading reflecting the change in food prices relative to May 2025, while the April figure captured the annual change versus April 2025. The acceleration suggests that food price growth is gaining momentum, potentially adding strain to consumer purchasing power and complicating efforts to stabilize the overall cost of living.