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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NigeriaNigeria Food Inflation YoY climbed to 16.96% in May 2026
FMPMonthlyReleased June 2026
Nigeria Food Inflation YoY climbed to 16.96% in May 2026, released June 2026, up 0.9% from April's 16.06% reading. The reading matched the 17.6% consensus. The print is running well above the 12-month average of 12.12%. Over the past 3 months, Food Inflation YoY averaged 15.48%, vs 10.62% in the prior 3-month window. Food Inflation YoY is now the highest in 8 months.
Latest Release
16.96
Actual
17.6
Consensus
16.06
Previous
Median Absolute Error
±1.37 percentage points
across last 12 releases
Last Call
Jun 2026
Predicted: 18.28
Actual: 16.96
Error: +1.32
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.59 | INDEX | Bullish S&P 500 | → View |
| BTC/USD | ▲ Direct | +0.59 | CRYPTO | Bullish BTC | → View |
| XAU/USD | ▼ Inverse | −0.50 | COMMODITIES | Bearish XAU | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Food Inflation YoY (Nigeria) was reported at 16.96% in June 2026. This missed the market consensus of 17.6% by 0.64%. The reading rose from the previous value of 16.06%. Trailing 12-month context per ETL data through June 2026. Over the past 12 months, the indicator has averaged 15.68%, ranging from 8.89% to 22.74% across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 15.05%, up from the prior three at 10.27%. Volatility over the past year (σ 4.68%) is lower than the prior year (σ 8.26%). In June readings over the past 3 years, Food Inflation YoY has averaged 26.25%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish S&P 500). A secondary relationship exists with BTC/USD, positively correlated (Bullish BTC). Over the last 12 releases, the Sigmacast model's median absolute error is 1.37%.
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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Food Inflation YoY - NG
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About Food Inflation YoY — Nigeria
DEFINITION
Food Inflation YoY (Year-over-Year) is a financial indicator that measures the change in the average price of food items over a 12-month period. It provides valuable insights into the overall trend of food prices and can help businesses and consumers anticipate potential changes in their food expenses. This indicator is commonly used by economists and policymakers to monitor the impact of food prices on inflation and to make informed decisions regarding monetary and fiscal policies.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 16.96 %, consensus 17.6 %. Prior reading (Apr 2026): 16.06 %. Before that (Apr 2026): 16.06 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish S&P 500, r=0.59) — a useful reference for index-focused traders.