Nigeria’s headline inflation rate dropped to 22.22% in June 2025, down from 22.97% recorded in May, according to the latest report by the National Bureau of Statistics (NBS).
This marks the third consecutive monthly drop in inflation and reflects a 0.76% decline month-on-month.
However, the Consumer Price Index (CPI) rose slightly from 121.4 in May to 123.4 in June, indicating that while inflation slowed year-on-year, prices are still rising month-on-month.
On an annual basis, inflation is down from 34.19% in June 2024, showing a 11.97% drop.
Food inflation stood at 21.97% year-on-year — 18.90% lower than June 2024 — though it spiked on a month-on-month basis to 3.25%, up from 2.19% in May.
NBS attributed the increase to higher prices of items such as green peas, fresh pepper, shrimps, crayfish, tomatoes, and plantain flour.
The average annual food inflation rate now stands at 28.28%, compared to 35.35% a year earlier.
