Nigeria’s inflation plummets to 15.91% in June as price pressures ease

By Kazeem Ugbodaga

Nigeria’s headline inflation rate eased further in June 2026, declining to 15.91 per cent from 15.93 per cent recorded in May, signalling a continued slowdown in the pace of rising consumer prices across the country.

The latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) showed that the inflation rate also fell sharply compared to the 25.29 per cent recorded in June 2025, reflecting a significant moderation in inflationary pressures over the past year.

According to the NBS, the June figure represents a 0.02 percentage point decline from the previous month, while the month-on-month inflation rate also slowed to 1.66 per cent, down from 1.75 per cent in May.

The bureau said the latest figures indicate that although prices of goods and services continued to increase, they did so at a slower pace than in the preceding month.

The report further showed that the average Consumer Price Index for the 12 months ending June 2026 rose by 17.63 per cent, representing a substantial decline from the 29.82 per cent recorded during the corresponding period in June 2025.

A breakdown of the data revealed mixed inflation trends between urban and rural areas.

In urban centres, the year-on-year inflation rate stood at 16.08 per cent in June, while month-on-month inflation increased to 2.13 per cent, up from 1.99 per cent recorded in May. However, the 12-month average urban inflation rate dropped significantly to 17.51 per cent, compared with 31.64 per cent in June 2025.

For rural areas, the year-on-year inflation rate was 15.48 per cent, while the month-on-month rate slowed markedly to 0.52 per cent, down from 1.17 per cent in May. The average rural inflation rate over the 12-month period also declined to 17.54 per cent, from 27.65 per cent recorded a year earlier.

The latest NBS figures suggest that inflationary pressures are gradually easing across the economy, with both annual and monthly headline inflation recording further declines.

However, the data also indicates that price movements remain uneven, as urban inflation accelerated on a monthly basis while rural areas experienced a more pronounced slowdown.

The June inflation report provides another indication of moderating price growth, although consumers continue to contend with elevated costs across key sectors of the economy.