English
Arab
Deutsch
Português
China
According to the National Bureau of Statistics (NBS), Nigeria's headline inflation rate stood at 15.91% year-on-year in June 2026, remaining considerably lower than the 25.29% recorded in June 2025 and easing slightly from 15.93% in May 2026. The Consumer Price Index (CPI) increased to 143.0 from 140.7 in the previous month, while month-on-month headline inflation moderated to 1.66%, down from 1.75% in May. In contrast, food inflation accelerated, rising from 2.98% month-on-month in May to 3.75% in June, an increase of 0.77 percentage points, and reached 17.52% on a year-on-year basis. This increase is attributed primarily to higher prices of fresh tomatoes, dried green peas, beef, cassava flour, and garri, among other food items. Furthermore, food and non-alcoholic beverages remained the largest contributors to headline inflation, accounting for 6.37 percentage points of the year-on-year rate and 0.66 percentage points on a month-on-month basis. Consequently, the marginal 0.02 percentage-point decline in headline inflation provides little relief to households, as the moderation has been driven largely by the core basket. In contrast, the food basket, which constitutes a significant share of household expenditure for the average Nigerian, continues to experience upward price pressures, which, in turn, is likely to affect households’ consumption and ultimately their welfare.Therefore, the government should strengthen farm-to-market infrastructure, particularly road networks, and expand storage facilities in surplus-producing states. Such measures would help reduce interstate disparities in food prices and contribute to greater price stability across the country.
Download PDF
