Nigeria’s headline inflation rate for June 2025 eased to 22.22 per cent, compared to 22.97 per cent recorded in May.

This was disclosed on Wednesday by the National Bureau of Statistics (NBS) in its latest Consumer Price Index (CPI) report.

According to the Bureau, the year-on-year figure marks a 0.75 percentage point drop from the previous month and a substantial 11.97 percentage point decline when compared to June 2024, which recorded a rate of 34.19 per cent.

The latest decline comes amid a rebased inflation index, with 2024 now serving as the new base year.

Despite the slowdown in annual inflation, price pressures remain persistent on a monthly basis.

Inflation rose slightly to 1.68 per cent in June from 1.53 per cent in May, indicating a quicker pace of price increases month-on-month.

The NBS report stated: “The Consumer Price Index rose to 123.4 in June 2025, reflecting a 2.0-point increase from the preceding month (121.4). In June 2025, the Headline inflation rate eased to 22.22 per cent relative to the May 2025 headline inflation rate of 22.97 per cent. Looking at the movement, the June 2025 Headline inflation rate showed a decrease of 0.75 per cent compared to the May 2025 Headline inflation rate.”

It continued: “On a year-on-year basis, the Headline inflation rate was 11.97 per cent lower than the rate recorded in June 2024 (34.19 per cent).

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.”

Food inflation dropped sharply to 21.97 per cent year-on-year in June, from 40.87 per cent in the same month of 2024 a change largely attributed to the base year effect. However, on a monthly basis, food inflation rose to 3.25 per cent, up from 2.19 per cent in May.

The rise was driven by price increases in staple items such as tomatoes, pepper, dried green peas, crayfish, shrimps, meat, plantain flour, and ground pepper.

The twelve-month average food inflation rate stood at 28.28 per cent, down from 35.3 per cent recorded over a similar period last year.

Core inflation, which excludes food and energy, declined to 22.76 per cent in June 2025 from 27.4 per cent in June 2024.

However, core inflation rose month-on-month to 2.46 per cent in June, up from 1.10 per cent in May, pointing to renewed pressures in non-food categories.

On average over the last twelve months, core inflation stood at 24.14 per cent, slightly above 24.01 per cent reported in the same period last year.

The report revealed a contrast between urban and rural inflation.

Urban inflation fell to 22.72 per cent year-on-year in June from 36.55 per cent in June 2024, but climbed month-on-month to 2.11 per cent from 1.40 per cent in May.

Meanwhile, rural inflation dropped to 20.85 per cent year-on-year from 32.09 per cent, but slowed to 0.63 per cent monthly, down from 1.83 per cent in May.

The average twelve-month inflation rate stood at 28.16 per cent for urban areas and 24.65 per cent for rural areas.

State-by-state breakdown shows that Borno recorded the highest year-on-year all-items inflation rate at 31.63 per cent, followed by Abuja at 26.79 per cent, and Benue at 25.91 per cent.

The slowest increases were seen in Zamfara (9.90 per cent), Yobe (13.51 per cent), and Sokoto (15.78 per cent).

Month-on-month, the steepest increases came from Ekiti (5.39 per cent), Delta (5.15 per cent), and Lagos (5.13 per cent), while Zamfara (-6.89 per cent), Niger (-5.35 per cent), and Plateau (-4.01 per cent) reported significant declines.

In terms of food inflation, Borno again led with 47.40 per cent year-on-year, followed by Ebonyi (30.62 per cent) and Bayelsa (28.64 per cent). Katsina (6.21 per cent), Adamawa (10.90 per cent), and Sokoto (15.25 per cent) recorded the lowest food inflation rates.

On a monthly basis, the fastest increases in food prices occurred 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) experienced notable declines.

The key divisions contributing to headline inflation remained consistent: food and non-alcoholic beverages, restaurants and accommodation services, transport, housing, electricity, gas and other fuels, education, health, and clothing and footwear.

Although the annual inflation rate shows signs of moderation, the continued rise in monthly figures underscores that Nigerian households are still grappling with rising living costs.

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