Nigeria’s inflation dips slightly to 15.91% in June, but food prices keep rising
Nigeria’s headline inflation eased slightly to 15.91% in June 2026, down from 15.93% in May, according to the National Bureau of Statistics’ latest CPI report. On a year‑on‑year basis, the rate is down sharply from 25.29% recorded in June 2025, showing a broader moderation in price pressures. Month‑on‑month, headline inflation slowed to 1.66% from 1.75% in May.
However, food inflation moved in the opposite direction. Year‑on‑year food prices rose to 17.52% in June, and month‑on‑month food inflation accelerated to 3.75%, up from 2.98% the previous month. This divergence means that while overall price growth is easing, the cost of staple foods continues to climb, squeezing household budgets.
The mixed picture suggests that non‑food items—such as fuel, transport, and services—are driving the modest decline in headline inflation, whereas food items remain under pressure from supply‑chain disruptions, seasonal factors, and possible currency effects.
What should you know? Expect higher grocery bills even as other costs stabilize. Households may need to adjust budgets, seek cheaper substitutes, or bulk‑buy non‑perishables. Traders and manufacturers should watch food‑input costs closely, as they could affect profit margins and pricing strategies. The NBS will release the next CPI release in late July, offering a clearer view of whether the food price trend persists.