Juliet Oladele, Reporting
NIGERIA’S headline inflation rate has eased marginally to 15.91 per cent in June 2026, marking the first decline after three consecutive months of increases, according to data released by the National Bureau of Statistics (NBS).
The latest Consumer Price Index (CPI) report, published on Wednesday, shows a 0.02 percentage point decrease from May’s 15.93 per cent figure . On a month-on-month basis, the headline inflation rate slowed to 1.66 per cent in June, compared with 1.75 per cent recorded in the previous month.
Despite the modest moderation in the headline figure, food prices continue to exert significant pressure on household budgets across the country. The food inflation rate accelerated to 3.75 per cent month-on-month, up from 2.98 per cent in May, driven by rising prices of staples including tomatoes, fresh pepper, crayfish, beef, garri and yam flour.
On a year-on-year basis, the inflation rate stands significantly lower than the 25.29 per cent recorded in June 2025, with food inflation dropping to 17.52 per cent from 25.41 per cent during the same period . Core inflation, which excludes volatile agricultural produce and energy prices, eased to 15.92 per cent year-on-year.
The NBS identified food and non-alcoholic beverages as the largest contributor to headline inflation, accounting for 6.37 percentage points, followed by restaurants and accommodation services (2.06 per cent) and transport (1.70 per cent).
The data comes ahead of the Central Bank of Nigeria’s Monetary Policy Committee meeting scheduled for 20-21 July, where policymakers are expected to review the mixed inflation signals. Analysts suggest the committee may adopt a hold stance as authorities monitor oil-linked external risks, particularly in light of ongoing geopolitical tensions affecting global crude prices.
