Nigeria’s inflation rate drops to 22.22% in June, says NBS

Based on the Consumer Price Index  (CPI) data from the National Bureau of Statistics (NBS) on Wednesday, Nigeria’s inflation  rate eased by 75basis points to 22.22per cent in June from 22.97 per cent in  May 2025. 

According to NBS, on a month-on-month basis, consumer prices increased to 1.68per cent from  1.53 per cent declared by NBS in May 2025. 

NBS disclosed that food inflation increased by 83basis points to 21.97per cent  in June from 21.14 per cent in  May 2025. 

“On a month-on-month basis, food inflation rose by 107 basis points to 3.25per cent (April: 2.19per cent m/m), 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.

“Similarly, core inflation (all items excluding farm produce and energy) edged higher by 48 basis points to 22.76per cent  in June (May: 22.28per cent).

“On a month-on-month basis, the core index increased sharply by 136basis points to 2.46per cent m/m (May: 1.10per cent m/m),” the report added.

According to NBS, on a year-on-year basis, in June 2025, the urban inflation rate was 22.72per cent, 13.83percenttage points lower compared to the 36.55 recorded in June 2024.

“On a month-on-month basis, the urban inflation rate was  2.11per cent in June 2025, up by 0.71per cent compared to May 2025 (1.40per cent).

The corresponding 12-month  average for the Urban inflation rate was 28.16per cent in June 2025. This was 3.92percentage points lower compared  to the 32.08per cent reported in June 2024.

On rural inflation, the report noted that, “The Rural inflation rate in June 2025 was 20.85per cent on a year-on-year basis. This was 11.24 percenttage points  lower compared to the 32.09per cent recorded in June 2024.

“On a month-on-month basis, the Rural inflation  rate in June 2025 was 0.63per cent, down by 1.2per cent compared to May 2025 (1.83per cent).

“The corresponding 12-month average for the Rural inflation rate in June 2025 was 24.65per cent. This was 3.5 percentage points lower compared to the 28.15per cent recorded in June 2024