Nigeria’s inflation rate has risen to 15.38 per cent, reflecting renewed pressure on household spending driven largely by increases in food prices and transportation costs.
The latest figures released by the National Bureau of Statistics show that essential goods and services continue to become more expensive, deepening the cost-of-living challenges faced by many Nigerians.
Food inflation remains a major driver of the overall increase, with staples such as grains, vegetables, and protein sources recording noticeable price hikes across markets.
Analysts attribute the trend to supply chain disruptions, high production costs, and insecurity in key agricultural regions, all of which have limited output and pushed prices upward.
Transportation costs have also contributed significantly to the rise in inflation, as higher fuel prices and logistics expenses continue to impact fares and the movement of goods.
This, in turn, feeds into the broader economy, raising the cost of commodities and services nationwide.
The combined effect of rising food and transport costs has tightened pressure on household incomes, with many families adjusting spending patterns to cope with increasing expenses.
Experts warn that sustained inflation at this level could further erode purchasing power if not addressed through targeted economic policies.
While authorities continue to monitor the situation, the latest data underscores ongoing economic challenges and the need for measures aimed at stabilizing prices and improving supply conditions across critical sectors.