Nigeria’s inflation rate fell slightly to 15.91% in June 2026, down from 15.93% in May, the National Bureau of Statistics (NBS) has said.
The NBS CPI report also showed a sharp drop compared to June 2025, when inflation stood at 25.29%.
On a month-on-month basis, inflation was 1.66% in June, 0.09 percentage points lower than the 1.75% recorded in May.
According to the NBS, the biggest contributors to inflation in June were Food and Non-Alcoholic Beverages with 6.37 percentage points, followed by Restaurants and Accommodation Services at 2.06 percentage points, and Transport at 1.70 percentage points.
The least contributors were recreation, sport and culture at 0.05 percentage points, alcoholic beverages, tobacco and narcotics at 0.06 percentage points, and insurance and financial services at 0.07 percentage points.
On food prices, the NBS reported that food inflation stood at 17.52 per cent year-on-year in June 2026, lower than the 25.41 per cent recorded in the corresponding period of 2025.
But on a month-on-month basis, food inflation accelerated to 3.75 per cent in June from 2.98 per cent in May, an increase of 0.77 percentage points.
The bureau tied the monthly rise in food inflation to increases in the average prices of items including crayfish, fresh pepper, fresh tomatoes, dried green peas, yam flour (sold loose), water yam, beef, banana, cassava flour, cowpea, garri, Irish potatoes and yam tubers, among others.
The report further showed that core inflation, which excludes the prices of volatile agricultural produce and energy, eased to 15.92 per cent year-on-year in June 2026, compared with 25.41 per cent recorded in June 2025.
On a month-on-month basis, core inflation slowed to 1.66 per cent in June from 1.94 per cent in May, reflecting a 0.28 percentage point decline.
The 12-month average Consumer Price Index (CPI) for the period ending June 2026 increased by 18.82 per cent, representing an 8.05 percentage point reduction from the 26.88 per cent recorded in the corresponding period of June 2025.