…Despite Surge In Food Inflation
Nigeria’s inflation rate eased marginally in June 2026 on a year-on-year basis, as headline inflation declined to 15.91%, from 15.93% in May, ending three consecutive months of increases, the National Bureau of Statistics (NBS) has reported.
The statistics agency in its ‘Consumer Price Index (CPI) for June 2026 report published today reported that on a month-on-month basis, headline inflation also moderated to 1.66%, from 1.75% in May, indicating a further slowdown in the pace of increase in consumer prices.
According to the Bureau, in the month under review, Nigeria’s Food inflation increased to 17.52% year-on-year (y-o-y), compared with 16.69% in May 2026.
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However, the CPI data reflected that on a month-on-month basis, food inflation rose to 3.75% in June 2026, from 2.98% in May 2026.
The national statistical system coordinating agency attributed the increase to higher prices of fresh tomatoes, peppers, beef, crayfish, garri, yam, potatoes, bananas and cowpea.
However, the NBS clarified that the nation’s Core inflation, which excludes volatile agricultural produce and energy, stood at 15.92% in June 2026, compared with 16.82% in May 2026.
This is even as it disclosed that Nigeria’s Core CPI on a month-on-month basis, core inflation moderated to 1.66% in June 2026, from 1.94% in May 2026.
An analysis of the CPI data on state basis in the month under review showed that inflation rate was highest in Niger State with 42.23 per cent, Kogi with 41.59 per cent and the Federal Capital Territory (FCT) Abuja with 39.91 per cent while the lowest CPI rate was recorded in Imo at 19.47 per cent, Ebonyi at 20.79 per cent and Katsina at 21.87 per cent.
A major highlight of the NBS’ report in June this year was that rural inflation was lower than urban inflation. On a year-on-year basis, the urban inflation rate in June 2026 was 16.08 per cent, while on a month-on-month basis it was 2.13 per cent, up by 0.14 per cent compared to May 2026 which was 1.99 per cent.
Comparatively, the rural inflation rate in the month under review was 15.48 per cent on a year-on-year basis, while on a month-on-month basis, it was 0.52 per cent, down by 0.64 per cent compared to May 2026, which was 1.17 per cent.
