Nigeria’s National Bureau of Statistics (NBS) has announced that the headline inflation rate slowed Month-on-Month (MoM) by 0.02 percentage point to 15.91 per cent in June 2026 as against 15.93 per cent in May.
According to the monthly report of inflation released on Wednesday, the NBS stated that the decline is coming after three consecutive months of increases in headline inflation rate since March 2026.
However, despite the moderation in inflation rate, the food index increased by 0.56 percentage points to 17.52 per cent in June, up from 16.96 per cent in May 2026 due 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, etc.
The NBS attributed the slight decline in inflation rate to a 0.9 per cent decrease in the core basket to 15.92 per cent in June 2026 from 16.82 per cent in May 2026.
“In June 2026, the headline inflation rate was 15.91 per cent, down from 15.93 per cent in May 2026 and stood at 25.29 per cent in the same month of the preceding year (June 2025).
“Looking at the movement, the June 2026 Headline inflation rate showed a decrease of 0.02 per cent compared to the May 2026 headline inflation rate.
“On a month-on-month basis, the headline inflation rate in June 2026 was 1.66 per cent, which was 0.09 per cent lower than the rate recorded in May 2026 (1.75 per cent).
“This means that in June 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in May 2026,” the NBS said.
On food inflation, the NBS said: “The Food inflation rate in June 2026 was 17.52 percent on a year-on-year basis and stood at 25.41 percent in the same month of the preceding year (June 2025).
“On a month-on-month basis, the Food inflation rate in June 2026 was 3.75 per cent, up by 0.77 per cent points from May 2026 (2.98 per cent),” the NBS added.
GIK/APA