Nigeria’s headline inflation rate declined to 15.91% on a year-on-year basis in June 2026, down from 15.93% recorded in May, according to data released on Wednesday by the National Bureau of Statistics (NBS).
The figure, which was contained in the NBS’s Consumer Price Index (CPI) Report for June 2026, marks a significant improvement from the 25.29% recorded in June 2025, pointing to a sustained easing of price pressure over the past thirteen months.
On a month-on-month basis, the Headline inflation rate in June 2026 was 1.66%, which was 0.09% lower than the rate recorded in May 2026 (1.75%).
The Food inflation rate in June 2026 was 17.52% on a year-on-year basis. On a month-on-month basis, the Food inflation rate in June 2026 was 3.75%, up by 0.77% points from May 2026 (2.98%).
URBAN INFLATION
On a year-on-year basis, in June 2026, the Urban inflation rate was 16.08%. On a month-on-month basis, the Urban inflation rate in June 2026 was 2.13%, up by 0.14% compared to May 2026 (1.99%).
The corresponding twelve-month average for the Urban inflation rate was 17.51% in June 2026. This was 14.14% points lower compared to the 31.64% recorded in June 2025.
RURAL INFLATION
The Rural inflation rate in June 2026 was 15.48% on a year-on-year basis. On a month-on-month basis, the Rural inflation rate in June 2026 was 0.52%, down by 0.64% compared to May 2026 (1.17%).
The corresponding twelve-month average for the Rural inflation rate in June 2026 was 17.54%. This was 10.11% points lower compared to the 27.65% recorded in June 2025.
FOOD INFLATION
The Food inflation rate in June 2026 was 17.52% on a year-on-year basis and stood at 25.41% in the same month of the preceding year (June 2025). On a month-on-month basis, the Food inflation rate in June 2026 was 3.75%, up by 0.77% points from May 2026 (2.98%).
This can be attributed to the rate of change in the average prices of the following products: Crayfish, Pepper (Fresh), Tomatoes (Fresh), Green Peas (dried), Fresh Pepper, Yam Flour (Sold loose), Water Yam, Beef, Banana, Cassava Flour, Cow Pea, Garri, Irish Potatoes, Yam Tuber, etc.
The average annual food inflation rate for the twelve months ending June 2026 over the previous twelve-month average was 16.42%, which was 15.51% points lower compared with the average annual rate of change recorded in June 2025 (31.93%).
CORE INFLATION
Core inflation, which excludes the prices of volatile agricultural produces and energy, stood at 15.92% in June 2026 on a year-on-year basis; showing a decline of 9.49% when compared to the 25.41% recorded in June 2025.
On a month-on-month basis, the Core Inflation rate was 1.66% in June 2026, down by 0.28% compared to May 2026 (1.94%).
The percentage change in the average CPI for the twelve months ending June 2026 over the average for the previous twelve-month period was 18.82%, which was 8.05% points lower than the 26.88% recorded in June 2025.
