Nigeria’s National Bureau of Statistics (NBS), has announced that the headline inflation rate for the month of June eased further to 22.22 per cent.
The NBS said in its monthly report of the Consumer Price Index (CPI) which measures inflation that the headline inflation showed a decrease of 0.76 per cent compared to 22.97 per cent recorded in May 2025.
The report, which was released in Abuja on Wednesday said that ‘on a month-on-month’, the headline inflation rate in June 2025 was 1.68 per cent, which was 0.15 per cent higher than the rate recorded in May 2025 at 1.53 per cent.
“This means that in June 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in May 2025.”
The report said the increase in the headline index for May 2025 was attributed to the increase in some items in the basket of goods and services at the divisional level.
It said the three major contributors to the headline inflation on a year-on-year basis were Food and non-alcoholic Beverages at 8.89 per cent, Restaurants and Accommodation Services at 2.87 per cent, and Transport at 2.37per cent.
The report showed the least contributors were Recreation, Sport, and Culture at 0.07 per cent, Alcoholic Beverages, Tobacco, and Narcotics at 0.08 per cent, and Insurance and Financial Services at 0.10 per cent.
The report said the food inflation rate in June 2025 was 21.97 per cent on a year-on-year basis, which was 18.90 per cent points lower compared to the rate recorded in June 2024 at 40.87 per cent.
“The significant decline in the annual food inflation figure is technically due to the change in the base year.”
It said on a month-on-month basis, the food inflation rate in June was 3.25 per cent, which increased by 1.07 per cent compared to the 2.19 per cent recorded in May 2025.
The NBS said the increase in food inflation was attributed to the reduction in average prices of items such as of Green Peas (Dried), Pepper (Fresh), Shrimps (white dried), Crayfish, Meat (Fresh), Tomatoes (Fresh), Plantain Flour, Ground Pepper, etc
The report said that “all items less farm produce and energy’’ or core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 22.76 per cent in June 2025 on a year-on-year basis.
“On a month-on-month basis, the Core Inflation rate was 2.46 per cent in June, which increased by 1.36 per cent compared to the 1.10 per cent recorded in May 2025.”
The NBS said for the newly introduced sub-indices, on a month-on-month basis, Farm Produce and Goods stood at -13.3 per cent and 0.93 per cent compared to May 2025, which were 22.38 per cent and 9.39 per cent, respectively.
“Conversely, Services and Energy stood at 3.26 per cent and -11.0 per cent compared to 1.79 per cent and -0.43 per cent recorded in May, respectively.*
The report said that on a year-on-year basis in June 2025, the urban inflation rate was 22.72 per cent.
“On a month-on-month basis, the urban inflation rate was 2.11 per cent in June 2025, which increased by 0.71 per cent compared to May at 1.40 per cent.”
The report said in June, the rural inflation rate was 20.85 per cent on a year-on-year basis.
“On a month-on-month basis, the rural inflation rate was 0.63 per cent in June, which decreased by 1.2 per cent compared to May at 1.83 per cent.”
GIK/APA