At 18.2%, Ondo state has lowest inflation rate in southwest region, says NBS

The National Bureau of Statistics (NBS) has revealed that Ondo state, followed by Ogun state, has the lowest inflation in the southwest region of Nigeria.

According to the latest NBS report, Ondo state’s inflation rate on a Year-on-Year (YoY) basis closed June 2025 at18.2 per cent, while Ogun state’s inflation rate stood at 20.62per cent.

The report revealed that Lagos state at 24.01 per cent has the highest all items inflation rate on a YoY basis in the region under review. This was followed by Ekiti state with 23.3 per cent.

Osun state’s inflation rate on a YoY basis was at 23 per cent and Oyo state 22.14 per cent as of June 2025.

In terms of food inflation rate on a YoY basis, Ondo state also has lowest rate, about 17.85 per cent as of June 2025. This was followed by Lagos state at 21.72 per cent.

NBS added that food inflation in Ogun state, 25.4 per cent; Osun State, 27.91 per cent; Ekiti 25.04 per cent and Oyo state, 25.07 per cent.

The bureau had disclosed that Nigeria’s inflation rate closed June 2025 at 22 .22 per cent from 22.97 per cent reported in  May 2025. 

“Looking at the movement, the June 2025 Headline inflation rate showed a decrease of  0.75per cent compared to the May 2025 Headline inflation rate,” NBS disclosed in its Consumer Price Index (CPI) report.

The report stated that in June 2025, all items inflation rate on a YoY basis was highest in Borno (31.63per cent), Abuja (26.79 per cent), and Benue (25.91per cent), while Zamfara (9.90per cent), Yobe (13.51per cent), Sokoto (15.78per cent) recorded the lowest rise in Headline inflation on YoY basis.

“On a Month-on-Month basis,  however, June 2025 recorded the highest increases in Ekiti (5.39 per cent), Delta (5.15 per cent), Lagos (5.13 per cent),  while Zamfara (-6.89 per cent), Niger (-5.35 per cent) and Plateau (-4.01 per cent) recorded the lowest rise in Month on-Month inflation.

On food inflation, the report explained that,  “In June 2025, Food inflation on a YoY basis was highest in Borno (47.40 per cent), Ebonyi  (30.62 per cent), Bayelsa (28.64 per cent), while Katsina (6.21 per cent), Adamawa (10.90 per cent), and Sokoto (15.25 per cent)  recorded the slowest rise in Food inflation on YoY basis. On a Month-on-Month basis,

“However, June 2025 Food inflation was highest in Enugu (11.90 per cent), Kwara (9.97 per cent), and Rivers  (9.88 per cent) while Borno (-7.63 per cent), Sokoto (-6.43 per cent) and Bayelsa (-6.34 per cent), recorded decline in Food  inflation on Month-on-Month basis.”