Nigeria’s inflation rate drops to 15.91%

Nigeria’s headline inflation rate eased slightly to 15.91 percent in June 2026, according to the National Bureau of Statistics (NBS).

The figure represents a marginal decline from the 15.93 percent recorded in May, marking the first drop in three months.

In its latest Consumer Price Index (CPI) report released on Wednesday, the NBS said the decrease reflects a slight moderation in the pace of price increases.

“The June 2026 headline inflation rate showed a decrease of 0.02% compared to the May 2026 headline inflation rate,” the agency said.

On a month-on-month basis, inflation stood at 1.66 percent in June — 0.09 percentage points lower than the 1.75 percent recorded in May.

Despite the slight drop in overall inflation, food prices continued to rise sharply. The NBS reported that food inflation increased to 17.52 percent year-on-year in June, up from 16.96 percent in May, although this remains lower than the 25.41 percent recorded in June 2025.

On a month-on-month basis, food inflation rose to 3.75 percent in June, compared to 2.98 percent in May — an increase of 0.77 percentage points. The agency attributed the surge to rising prices of staple items such as crayfish, fresh pepper, tomatoes, yam flour, beef, cassava products, and potatoes.

The report showed notable variations across states. Kogi (53.02%), Niger (43.83%), and Benue (40.83%) recorded the highest year-on-year food inflation rates, while Katsina (19.15%), Rivers (23.81%), and Imo (24.60%) saw the slowest increases.

On a month-on-month basis, Katsina (16.83%), Kebbi (9.79%), and Niger (8.96%) recorded the highest increases, while Borno (3.54%), Benue (-2.36%), and Bayelsa (-1.34%) experienced the slowest rise, including declines in some cases.

While the slight drop in headline inflation suggests some easing in overall price pressures, the continued rise in food inflation highlights persistent cost-of-living challenges for households across the country.