Nigeria’s Inflation Eases to 15.91% in June as Food Prices Remain Elevated – NBS

Nigeria’s Inflation Eases to 15.91% in June as Food Prices Remain Elevated – NBS

Abuja, Nigeria– Nigeria’s headline inflation rate edged down to 15.91% in June 2026 from 15.93% in May 2026, signaling a continued slowdown in the pace of price increases across the country, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).

On a year-on-year basis, inflation stood at 15.91%, a significant decline from 25.29% recorded in June 2025. This indicates that while prices of goods and services are still rising, the rate of increase has moderated considerably over the past year.


On a month-on-month basis, headline inflation stood at 1.66% in June, compared to 1.75% in May, representing a decline of 0.09 percentage points. This shows that the average price level increased at a slower pace during the month.

Food Inflation Remains a Concern  

Despite the overall moderation, food inflation remains elevated.  

- Year-on-year: Food inflation stood at 17.52% in June 2026, down from 25.41% in June 2025.  

- Month-on-month: Food inflation accelerated to 3.75%, up from 2.98% in May, an increase of 0.77 percentage points.


Core Inflation and Regional Breakdown  

Core inflation, which excludes farm produce and energy prices, was 15.92% year-on-year in June, while the month-on-month rate held steady at 1.66%.

By location:  

- Urban inflation: 16.08% year-on-year, with a monthly increase of 2.13%  

- Rural inflation: 15.48% year-on-year, with a monthly increase of 0.52%


Outlook  

The CPI trend over the last 12 months shows a sustained decline in annual inflation from 25.29% in June 2025 to 15.91% in June 2026, reflecting improving macroeconomic conditions and easing inflationary pressures. 

However, the renewed uptick in monthly food inflation suggests Nigerian households continue to face significant pressure from rising food prices.

The Consumer Price Index measures the average change over time in the prices of goods and services consumed by households and remains Nigeria’s primary indicator of inflation. The June 2026 report is expected to guide fiscal and monetary policy decisions aimed at sustaining price stability while addressing persistent food inflation.

Source: National Bureau of Statistics (NBS)


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