Nigeria’s Inflation Eases Again To 22.22

Nation Bureau of Statistics (NBS) has announced that Nigeria’s headline inflation rate reduced to 22.22 percent in June 2025.

The latest figure is lower when compared to 22.97% for May 2025 headline inflation rate.

Food inflation rate in June 2025 also dropped to 21.97% on a year-on-year basis, representing 18.90% points lower compared to the rate recorded in June 2024 at 40.87%.

“The significant decline in the annual food inflation figure is technically due to the change in the base year,” the bureau stated in the data released on Wednesday.

On a month-on-month basis, the Food inflation rate in June 2025 was 3.25%, up by 1.07% compared to May 2025 (2.19%).

The NBS attributed the increase to rise in the average prices of Green Peas (dried), pepper (fresh), shrimps (white dried), crayfish, meat, among others.

The average annual rate of food inflation for the twelve months ending June 2025 over the previous 12-month average was 28.28%, which was 7.06% points lower compared with the average annual rate of change recorded in June 2024 at 35.35%.

Nigeria’s annual inflation rate eased for the second month to 22.97% in May 2025, from 23.71% in the prior month.

Looking at the movement, the June 2025 headline inflation rate showed a decrease of 0.76% compared to the May 2025.

On a year-on-year basis, the inflation rate was 11.97% lower than the rate recorded in June 2024 (34.19%).

This shows that the headline inflation rate (year-on-year basis) decreased in June 2025 compared to the same month in June 2024, although with a different base year, November 2009 = 100.

On a month-on-month basis, the headline inflation rate in June 2025 was 1.68%, which was 0.15% higher than the rate recorded in May 2025 (1.53%).

This means that in June 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in May 2025.

The percentage change in the average CPI for the twelve months ending June 2025 over the average for the previous twelve-month period was 26.58%, showing a 3.42% decrease compared to 30.00% recorded in June 2024.

On a year-on-year basis, in June 2025, the urban inflation rate was 22.72%, 13.83% points lower compared to the 36.55% recorded in June 2024.

On a month-on-month basis, the Urban inflation rate was 2.11% in June 2025, up by 0.71% compared to May 2025 (1.40 %).

The corresponding 12-month average for the urban inflation rate was 28.16% in June 2025.

That was 3.92% points lower compared to the 32.08% reported in June 2024.

The rural inflation rate in June 2025 was 20.85% on a year-on-year basis. This was 11.24% points lower compared to the 32.09% recorded in June 2024.

On a month-on-month basis, the rural inflation rate in June 2025 was 0.63%, down by 1.2% compared to May 2025 (1.83%).

The corresponding 12-month average for the rural inflation rate in June 2025 was 24.65%, translating to 3.5% points lower compared to the 28.15% recorded in June 2024.