Despite Rising Food Prices, Inflation Eases to 15.91% in June

Nigeria’s headline inflation rate edged lower to 15.91 per cent in June 2026, compared to 15.93 per cent recorded in May, according to the latest Consumer Price Index (CPI) report.

This was contained in June’s Consumer Price Index Report (CPI), realised by the National Bureau of Statistics (NBS) on Wednesday, stressing that the figure was a 0.2 per cent reduction from the 15.93 per cent recorded in the preceding month.

It went on to state that June’s figure was lower than the 25.29 per cent recorded in June 2025.

The June inflation rate was significantly lower than the 25.29 per cent recorded in June 2025, reflecting a continued moderation in headline price growth on a year-on-year basis.

On a month-on-month basis, headline inflation slowed to 1.66 per cent in June, down from 1.75 per cent in May, indicating a slower pace of price increases compared to the previous month.

However, food inflation remained elevated, rising to 17.52 per cent year-on-year in June. On a monthly basis, food inflation accelerated to 3.75 per cent up from 2.98 per cent in May, suggesting renewed pressure on food prices despite the slight moderation in overall inflation.