Inflation Falls To 15.91% In June Despite Jump In Food Costs

Nigeria’s headline inflation rate slowed to 15.91 per cent in June 2026, easing marginally from 15.93 per cent recorded in May, the National Bureau of Statistics (NBS) said on Wednesday.

The Bureau disclosed this in its Consumer Price Index (CPI) and Inflation Report for June 2026, released in Abuja on Wednesday, noting that the figure represented the first decline in headline inflation in three months.

According to the report, the June 2026 headline inflation rate stood significantly lower than the 25.29 per cent recorded in the corresponding month of 2025, reflecting what the Bureau described as a continued moderation in inflationary pressures over the past year.

The NBS stated, “In June 2026, the headline inflation rate was 15.91 per cent, down from 15.93 per cent in May 2026 and stood at 25.29 per cent in the same month of the preceding year, June 2025.”

It added that on a month-on-month basis, the headline inflation rate stood at 1.66 per cent in June, lower than the 1.75 per cent recorded in May, indicating that average prices rose at a slower pace during the month under review.

The Bureau explained that the Consumer Price Index (CPI) rose to 143.0 points in June, up from 140.7 points in May, representing a 2.3-point increase in the general price level.

Food inflation climbs despite headline slowdown

Despite the overall easing, the NBS reported that food inflation moved in the opposite direction, rising sharply on a month-on-month basis even as it moderated slightly on a year-on-year basis.

The Bureau disclosed that the food inflation rate stood at 17.52 per cent year-on-year in June 2026, down from 25.41 per cent recorded in the same month of 2025. However, on a month-on-month basis, food inflation rose to 3.75 per cent in June, up by 0.77 percentage points from 2.98 per cent recorded in May.

The NBS attributed the faster month-on-month rise to higher average prices for several staple food items.

It listed the affected commodities as crayfish, fresh pepper, fresh tomatoes, dried green peas, loose yam flour, water yam, beef, banana, cassava flour, cowpea, garri, Irish potatoes and yam tuber, among others.

Core inflation also moderates

The report further showed that core inflation, which excludes the prices of volatile agricultural produce and energy, declined to 15.92 per cent year-on-year in June, compared with 25.41 per cent recorded in June 2025.

On a month-on-month basis, the NBS said core inflation slowed to 1.66 per cent in June, down from 1.94 per cent in May.

Urban-rural and state-by-state disparities

The Bureau noted that inflation trends varied between urban and rural areas. It said urban inflation stood at 16.08 per cent year-on-year in June, while rural inflation was lower at 15.48 per cent. On a month-on-month basis, however, urban inflation rose to 2.13 per cent from 1.99 per cent in May, while rural inflation slowed markedly to 0.52 per cent from 1.17 per cent.

On the state-by-state breakdown, the NBS said Niger State recorded the highest year-on-year headline inflation rate at 42.23 per cent, followed by Kogi at 41.59 per cent and the Federal Capital Territory at 39.91 per cent. The lowest year-on-year headline inflation rates were recorded in Imo (19.74 per cent), Ebonyi (20.79 per cent) and Katsina (21.87 per cent).

For food inflation specifically, the Bureau said Kogi recorded the highest year-on-year rate at 53.02 per cent, followed by Niger at 43.83 per cent and Benue at 40.83 per cent. It said Katsina (19.15 per cent), Rivers (23.81 per cent) and Imo (24.60 per cent) recorded the slowest rise in food inflation year-on-year.

On a month-on-month basis, the NBS said food inflation was highest in Katsina at 16.82 per cent, followed by Kebbi (9.79 per cent) and Niger (8.96 per cent), while Borno (-3.54 per cent), Benue (-2.36 per cent) and Bayelsa (-1.34 per cent) recorded declines in food prices during the month.

The NBS also disclosed that the average headline inflation rate for the twelve months ending June 2026 stood at 17.63 per cent, lower than the 29.82 per cent recorded over the corresponding period ending June 2025. Similarly, it said the average annual food inflation rate declined to 16.42 per cent from 31.93 per cent recorded in the previous corresponding period.

Major drivers of inflation

According to the report, the major contributors to the June 2026 headline inflation rate were food and non-alcoholic beverages, which accounted for 6.37 per cent, followed by restaurants and accommodation services at 2.06 per cent, and transport at 1.70 per cent.