- Nigeria’s inflation falls slightly in June
- Food prices remain a major concern
- NBS reports lower annual inflation rate
Nigeria’s inflation rate recorded a marginal decline in June 2026, dropping to 15.91 per cent from 15.93 per cent in May, according to the latest Consumer Price Index report released by the National Bureau of Statistics (NBS).
Eko Hot Blog gathered that the new figure represents a 0.02 percentage point decrease from the previous month’s rate and is significantly lower than the 25.29 per cent recorded in June 2025.
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The NBS also reported that headline inflation slowed on a month-to-month basis, falling to 1.66 per cent in June from 1.75 per cent in May.
The bureau explained that the month-on-month figure reflects changes in the general price level between the two months.
Food and non-alcoholic beverages remained the biggest contributors to inflation during the period, accounting for 6.37 percentage points of the headline figure.
Other major contributors included restaurants and accommodation services with 2.06 percentage points, and transport with 1.70 percentage points.
The lowest contributions came from recreation, sport and culture at 0.05 percentage points, alcoholic beverages, tobacco and narcotics at 0.06 percentage points, and insurance and financial services at 0.07 percentage points.
Despite the overall decline, the data showed that food, transportation and other essential household expenses continued to place pressure on consumers.
The NBS stated that food inflation stood at 17.52 per cent year-on-year in June 2026, compared with 25.41 per cent recorded during the same period in 2025.
However, food prices increased between May and June, as month-on-month food inflation rose to 3.75 per cent from 2.98 per cent.
The statistics agency linked the monthly increase to higher prices of several food items, including tomatoes, fresh pepper, crayfish, yam, beef, garri, cowpeas, potatoes and other agricultural products.
The rise in monthly food inflation indicates that while annual food price growth has slowed, many households are still experiencing higher costs for basic commodities.
Meanwhile, core inflation, which excludes volatile food and energy prices, stood at 15.92 per cent in June 2026.
This was a significant drop from the 25.41 per cent recorded in June 2025, while the month-on-month core inflation rate declined from 1.94 per cent in May to 1.66 per cent in June.
The NBS noted that the average Consumer Price Index for the 12 months ending June 2026 rose by 18.82 per cent, compared with the previous 12-month period.
The figure was lower than the 26.88 per cent recorded in June 2025, showing continued moderation in annual inflation.
Although inflation has continued to ease, the increase in monthly food prices highlights the ongoing financial pressure faced by many Nigerian households.
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