- As Headline Inflation Reverses Disinflation Trend
Nigeria’s headline inflation rose by 32bps to 15.38 percent % y/y in March from 15.06% y/y reported in February, marking – the first increase since March 2025.
Meanwhile, the outturn is 2bps lower than Cordros Securities revised upward estimate of 15.40% y/y.
On a month-on-month basis, consumer prices rose at a faster pace by 4.18 percent doubled the February data which stood at 2.01percent m/m.
Breaking it down, food inflation jumped by 219bps to 14.31% year on year (y/y) in March rising from: 12.12% y/y recorded in February.
On a month-on-month basis, food prices rose by 4.17% (February: 4.69% m/m), primarily due to price increases in the following products: Yam, Ginger (Fresh), Cassava Tuber, Groundnuts (Shelled), Irish Potatoes, Avenger (Ogbono/Apon) – Dried Ungrinded, Toma toes (fresh), Cassava Flour sold loose, etc.
At the same time, core inflation (all items excluding farm produce and energy) increased by 33bps to 16.21% y/y in March (February: 15.88% y/y). On a month-on-month basis, the core index rose sharply by 4.03% (February: 0.89% m/m).
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