By Maryam Shuaibu
Nigeria’s headline inflation rate edged down to 15.91 per cent in June, extending a gradual easing in overall price growth, but the cost of food continued to climb, underscoring the persistent pressure on household budgets.
The latest Consumer Price Index (CPI) released by the National Bureau of Statistics (NBS) on Wednesday showed that headline inflation declined marginally from 15.93 per cent in May, representing a 0.02 percentage-point drop.
Compared with 25.29 per cent recorded in June 2025, the latest figure reflects a significant year-on-year moderation in inflation, although food prices remain a major concern for consumers.
Please follow our WhatsApp Channel: https://whatsapp.com/channel/0029Vb8ElyNHFxOunLS1Gp31
The bureau also reported that monthly inflation slowed to 1.66 per cent in June from 1.75 per cent in May, indicating that prices continued to rise but at a slower pace.
“This means that in June 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in May 2026,” the NBS said.
The Consumer Price Index increased to 143.0 in June from 140.7 in May, reflecting a 2.3-point rise in the overall price level.
Food Inflation Remains a Concern
Despite the slight moderation in headline inflation, food prices continued to increase.
According to the NBS, food inflation stood at 17.52 per cent year-on-year in June, compared with 25.41 per cent in the same period last year.
On a month-on-month basis, however, food inflation accelerated to 3.75 per cent, up from 2.98 per cent in May, driven by higher prices of staple foods.
The bureau attributed the increase to rising prices of fresh pepper, tomatoes, crayfish, beef, garri, yam tubers, yam flour, cassava flour, cowpea, bananas and Irish potatoes.
Food and non-alcoholic beverages remained the largest contributor to headline inflation, accounting for 6.37 percentage points.
Other major contributors included restaurants and accommodation services (2.06 percentage points), transport (1.70 percentage points), housing, water, electricity, gas and other fuels (1.34 percentage points), education (0.99 percentage points), and health (0.96 percentage points).
Core Inflation Also Declines
Core inflation, which excludes the prices of volatile agricultural produce and energy, eased to 15.92 per cent year-on-year in June from 25.41 per cent recorded a year earlier.
On a monthly basis, core inflation also moderated to 1.66 per cent, compared with 1.94 per cent in May.
The report further showed that the average headline inflation rate for the 12 months ending June 2026 declined to 17.63 per cent, from 29.82 per cent recorded in June 2025.
Similarly, average annual food inflation fell to 16.42 per cent, compared with 31.93 per cent during the corresponding period of the previous year.
The NBS said urban inflation stood at 16.08 per cent year-on-year, while rural inflation was 15.48 per cent.
On a monthly basis, urban inflation rose to 2.13 per cent from 1.99 per cent in May, while rural inflation slowed to 0.52 per cent, down from 1.17 per cent.
Inflation Varies Across States
The report also highlighted significant differences in inflation across states.
Niger State recorded the highest annual headline inflation rate at 42.23 per cent, followed by Kogi (41.59 per cent) and the Federal Capital Territory (39.91 per cent).
The lowest annual inflation rates were recorded in Imo (19.47 per cent), Ebonyi (20.79 per cent), and Katsina (21.87 per cent).
For food inflation, Kogi State posted the highest year-on-year rate at 53.02 per cent, followed by Niger (43.83 per cent) and Benue (40.83 per cent).
The lowest food inflation rates were recorded in Katsina (19.15 per cent), Rivers (23.81 per cent), and Imo (24.60 per cent).
Cost of Living Still High
Although the latest figures suggest that overall inflationary pressures are gradually easing, the continued rise in monthly food inflation indicates that many households are still struggling with the rising cost of essential food items.
Nigeria has continued to grapple with elevated consumer prices following economic reforms, including exchange rate adjustments and higher energy and transportation costs. With food accounting for a large share of household spending, sustained increases in food prices remain one of the biggest drivers of the country’s cost-of-living challenge.