Nigeria’s headline inflation rate recorded a slight decline in June 2026, offering another sign that overall price pressures may be easing. However, the cost of food continued to rise, highlighting the persistent challenge facing millions of households across Africa’s largest economy.
According to the latest Consumer Price Index (CPI) report released by Nigeria’s National Bureau of Statistics (NBS), the country’s annual inflation rate fell marginally to 15.91% in June, down from 15.93% in May. Although the reduction was small, it marked another month of moderation after a period of sustained inflation.
The improvement was largely driven by lower core inflation, which excludes volatile agricultural produce and energy prices. Core inflation dropped to 15.92% from 16.82% recorded in May, suggesting that price increases outside food items are beginning to slow.
Despite this positive trend, food inflation moved in the opposite direction. The annual food inflation rate climbed to 17.52%, up from 16.96% in May, reflecting continued increases in the prices of staple foods consumed by millions of Nigerians.
The NBS attributed the rise to higher market prices of essential food items, including fresh tomatoes, peppers, crayfish, beef, bananas, garri, cassava flour, cowpeas, Irish potatoes, yam tubers, water yam, dried green peas and yam flour.
On a monthly basis, headline inflation stood at 1.66% in June, slightly lower than 1.75% recorded in May. This indicates that while prices are still rising, they are increasing at a slower pace than in the previous month.
Food inflation on a month-to-month basis, however, accelerated to 3.75%, compared with 2.98% in May, showing that consumers continued to face rising food costs despite the broader slowdown in inflation.
State-by-state data revealed significant differences across Nigeria. Kogi recorded the highest annual food inflation rate at 53.02%, followed by Niger at 43.83% and Benue at 40.83%. Meanwhile, Katsina, Rivers and Imo experienced the slowest annual increase in food prices.
For monthly food inflation, Katsina posted the highest increase, followed by Kebbi and Niger, while Borno, Benue and Bayelsa recorded declines, suggesting that food price movements varied widely across different regions.
The latest figures present a mixed picture for Nigeria’s economy. While easing headline inflation may signal improving macroeconomic stability, the continued rise in food prices remains a major concern for families already grappling with high living costs. Economists say keeping food inflation under control will be crucial to improving household purchasing power and supporting economic recovery in the months ahead.
