Nigeria’s Inflation Rate Eases to 15.91% in June 2026
By Ewache Ajefu
Nigeria’s headline inflation rate eased to 15.91% in June 2026, dropping marginally from 15.93% in May, the National Bureau of Statistics (NBS), has said in its latest report.
Statistician General of the Federation/CEO of NBS Prince Adeyemi Adeniran in a statement said this represents a significant decrease compared to the 25.29% recorded in June 2025. However, food inflation rose to 17.52% year-on-year.
The National Bureau of Statistics is pleased to announce the release of the latest Consumer Price Index (CPI) figures for June 2026. Following the completion of the recent rebasing exercise, this report is centred on a new CPI base year of 2024 and a weight reference period of 2023. Hence, the Consumer Price Index (CPI) increased to 143.0 in June 2026, and reflects a 2.3-point increase from the preceding month.
According to the report, 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%).
Contributions to Headline Inflation:
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%.
Food Inflation Rate:
The Food inflation rate in June 2026 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%). This can be attributed 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.
Core Inflation Rate:
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. 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 newly introduced indices:
The inflation rate of the sub-indices for June 2026 shows that the monthly change recorded were Farm Produce (4.42%), Energy (-7.54%), Services (1.60%), Goods (1.94%) and Imported Food (1.73%). Meanwhile, the inflation rate on a year-on-year basis recorded were as follows; Farm Produce (18.81%), Energy (9.90%), Services (15.99%), Goods (16.53%) and Imported Food (13.63%).
Urban and Rural Inflation Rates:
On a year-on-year basis, the urban inflation rate in June 2026 was 16.08%. On a month-on-month basis, the urban inflation rate was 2.13% in June 2026, up by 0.14% compared to May 2026 (1.99%).
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%).
State-Level Analyses:
In analysing price movements under this section, it should be noted that CPI is weighted by consumption expenditure patterns that differ across States and locations. Accordingly, the weight assigned to a particular Food or Non-Food item may differ from State to State making interstate comparisons of consumption basket inadvisable and potentially misleading.
All Items Inflation
In June 2026, the All-Items inflation rate on a Year-on-Year basis was highest in Niger (42.23%), Kogi (41.59%), and Abuja (39.91%), while Imo (19.47%), Ebonyi (20.79%) and Katsina (21.87%) recorded the lowest rise in Headline inflation on a Year-on-Year basis. On a Month-on-Month basis, however, June 2026 recorded the highest increases in Niger (11.65%), Katsina (8.13%) and Kwara (7.52%), while Bayelsa (-6.48%), Benue (-5.58%), and Cross River (-5.12%) recorded the lowest rise in the Month-on-Month inflation.
Food Inflation
State-level analyses of the food index in June 2026, Food inflation on a Year-on-Year basis was highest in Kogi (53.02%), Niger (43.83%), and Benue (40.83%), while Katsina (19.15%), Rivers (23.81%) and Imo (24.60%) recorded the slowest rise in Food inflation on a Year-on-Year basis. On a Month-on-Month basis, however, June 2026 Food inflation was highest in Katsina (16.82%), Kebbi (9.79%) and Niger (8.96%), while Borno (-3.54%), Benue (-2.36%), and Bayelsa (-1.34%) recorded the slowest rise in Food inflation on a Month-on-Month basis.
