Inflation drops to 15.91% – NBS

Nigeria’s headline inflation dropped marginally to 15.91% in June.

A report by the National Bureau of Statistics (NBS) stated that the figure was a 0.2 percent reduction from the 15.93% recorded in May.

It stated that June’s figure was lower than the 25.29% recorded June 2025.

“The month-on-month headline inflation rate in June 2026 was 1.66%, which was 0.09% lower than the rate recorded in May 2026 (1.75%).”

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At the divisional level, the three major contributors to the headline inflation were Food and Non-alcoholic Beverages: 6.37%, Restaurants & Accommodation Services: 2.06%, and Transport: 1.70%; while the least contributors were Recreation, Sport, and Culture: 0.05%, Alcoholic Beverages, Tobacco, and Narcotics: 0.06%, and Insurance and Financial Services: 0.07%.

“On Food inflation, the figure was 17.52% on a year-on-year basis, lower than 25.41% recorded in June 2025.

“Also, 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%).”

It attributed this to the rate of change in the average prices of 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, among others.

It said that all items less farm produces and energy or Core inflation, which excludes the prices of volatile agricultural produce 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.”

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