Nigeria’s Inflation Rate Eases for third month

News Update

Nigeria’s Headline inflation rate eased to 22.22% when compared to the May 2025 headline inflation rate of 22.97%, according to a report by the National Bureau of Statistics (NBS).

The drop which is the third in the last three month is a marginal decrease of 0.76% compared to the May 2025 Headline inflation rate.

The report however stated that the Consumer Price Index (CPI) rose to 123.4 in June 2025, reflecting a 2.0-point increase from the preceding month (121.4).

On a year-on-year basis, the inflation rate was 11.97% lower than the rate recorded in June 2024 (34.19%).

“This shows that the Headline inflation rate (year-on-year basis) decreased in June 2025 compared to the same month in the preceding year (i.e., June 2024), though with a different base year, November 2009 = 100.”

It added that on a On a month-on-month basis, the Headline inflation rate in June 2025 was 1.68%, which was 0.15% higher than the rate recorded in May 2025 (1.53%).

“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.

It said Food inflation rate in June 2025 was 21.97% on a year-on-year basis.

“This was 18.90% points lower compared to the rate recorded in June 2024 (40.87%). The significant decline in the annual food inflation figure is technically due to the change in the base year. On a month-on-month basis, the Food inflation rate in June 2025 was 3.25%, up by 1.07% compared to May 2025 (2.19%). The increase can be attributed to the rate of increase in the average prices of Green Peas (Dried), Pepper (Fresh), Shrimps (white dried), Crayfish, Meat (Fresh), Tomatoes (Fresh), Plantain Flour, Ground Pepper, etc.”

“The average annual rate of Food inflation for the twelve months ending June 2025 over the previous twelve-month average was 28.28%, which was 7.06% points lower compared with the average annual rate of change recorded in June 2024 (35.35%).”