Search
Sign in
North Africa
Central Africa
East Africa
West Africa
Southern Africa
Commodities

Nigeria’s Inflation Surges to 33.95% in May, Driven by Rising Food Costs

Dulue Mbachu

Dulue Mbachu, an experienced journalist, covers business and politics for Allen Dreyfus.
  • Nigeria’s annual inflation reaches 33.95% in May, driven primarily by food prices
  • Central Bank grapples with high inflation despite aggressive interest rate hikes

 

Abuja, Nigeria – Nigeria’s annual inflation continued its upward trend in May, increasing by 0.26 percentage points from the previous month to reach 33.95%, according to data released by the National Bureau of Statistics.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


By signing in, you agree to receive Allen Dreyfus newsletters and updates. You can unsubscribe at any time.

Recent Business

Cocoa pod and beans outdoors. Photo by Ákos Helgert @ Pexels
How Nigeria's cocoa strategy could end decades of oil dependence
29/07/2026
1 month ago
Vincent Nwanma
Read More »
A vibrant display of traditional dance in Botswana. Photo by Xitsundzuxo Himina @ Pexels
Why Botswana’s inflation surge signals wider risks for commodity economies
16/06/2026
3 months ago
Eric Kasongo
Read More »
Molten metal pouring from ladle in industrial foundry. Photo by Bence Szemerey @Pexels
Can Kipushi’s zinc boom in Congo redraw Africa’s commodity power balance?
08/06/2026
3 months ago
Eric Kasongo
Read More »

Recent Politics

Gridlock at Ijora, Lagos, Nigeria. Photo by Dami Akinbode @ Unsplash
Nigeria’s inflation barely moves. Is disinflation finally real?
16/09/2026
4 days ago
Vincent Nwanma
Read More »
Barrels of oil. Photo by Atik sulianami @ Unsplash
Uganda pushes first oil to 2027. Will investors wait?
15/09/2026
5 days ago
Kent Mensah
Read More »
View of the San Antonio Maersk Container Ship in the Port. Photo by Wolfgang Weiser @Pexels
Nigeria has ship finance. Where are the vessels?
14/09/2026
6 days ago
Vincent Nwanma
Read More »

Latest Posts

Latest news insights

Nigerian youth on the street. Photo by Salem Ochidi @ Unsplash
Read More »
Can Nigeria's opposition unite before Tinubu’s 2027 rematch?
Abena Osei-Poku, Managing Director of Ecobank Ghana. Photo @Ecobank Ghana/Facebook
Read More »
Abena Osei-Poku: From intern to Ecobank Ghana chief
Safety helmet at an oil field. Photo by Ümit Yıldırım @ Unsplash
Read More »
Senegal’s 109 oil blocks test sovereignty against capital
African start-ups raised $455m in August. Photo by Ninthgrid @ Pexels
Read More »
Africa’s $455m startup funding rebound hides deeper divide
Abena Osei-Poku, Managing Director of Ecobank Ghana. Photo @Ecobank Ghana/Facebook
Read More »
Abena Osei-Poku: From intern to Ecobank Ghana chief
Safety helmet at an oil field. Photo by Ümit Yıldırım @ Unsplash
Read More »
Senegal’s 109 oil blocks test sovereignty against capital
African start-ups raised $455m in August. Photo by Ninthgrid @ Pexels
Read More »
Africa’s $455m startup funding rebound hides deeper divide
An informal settlement with numerous makeshift rooftops and power lines. Photo by Magda Ehlers @ Pexels
Read More »
Is Botswana’s inflation cooling? Energy remains the spoiler
Safety helmet at an oil field. Photo by Ümit Yıldırım @ Unsplash
Read More »
Senegal’s 109 oil blocks test sovereignty against capital
African start-ups raised $455m in August. Photo by Ninthgrid @ Pexels
Read More »
Africa’s $455m startup funding rebound hides deeper divide
An informal settlement with numerous makeshift rooftops and power lines. Photo by Magda Ehlers @ Pexels
Read More »
Is Botswana’s inflation cooling? Energy remains the spoiler
Street vendor selling goods in traffic in Ghana. Photo by Carbell Sarfo @Pexels
Read More »
Ghana cedi slips again. Can seasonal pressure deepen?