Nigeria’s Inflation Inches Down to 15.91%, But Food Costs Surge

In June 2026, Nigeria’s headline inflation eased slightly to 15.91% from 15.93% in May, the National Bureau of Statistics reports. Despite the marginal drop, food prices climbed faster month-on-month. Staples like pepper, tomatoes, garri and yam saw significant hikes. The Consumer Price Index rose to 143.0 in June from 140.7 in May, reflecting a 2.3-point increase over the previous month. Headline inflation slowed to 1.66% month-on-month, down from 1.75% in May. Food and non-alcoholic beverages remained the top driver, contributing 6.37 percentage points to headline inflation. Other major contributors included restaurants and accommodation services (2.06 points), transport (1.70 points) and utilities (1.34 points). Urban inflation stood at 16.08% year-on-year in June, while rural inflation was 15.48%. Across states, Niger recorded the highest annual rate at 42.23% and Imo the lowest at 19.47%.

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