• Severe in Niger, Kogi, Abuja, others
James Emejo and Deborah Adekoya in Abuja
The Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, moderated marginally to 15.91 per cent in June from 15.93 per cent recorded in May, the National Bureau of Statistics (NBS) said yesterday.
The slight moderation marked the first decline in headline inflation after three consecutive monthly increases, suggesting that while overall inflationary pressures remained largely elevated, though the pace of price increases eased marginally during the review period.
According to the CPI report for the period under review, month-on-month, headline inflation also slowed to 1.66 per cent in June from 1.75 per cent in May, indicating that the average price level continued to rise but at a slower pace than in the preceding month.
According to the statistical agency, the CPI index rose to 143.0 points in June from 140.7 in May, reflecting a 2.3-point increase in the general price level.
Average annual headline inflation for the 12 months ending June 2026 stood at 18.03 per cent, representing a sharp decline from 30.44 per cent recorded in the corresponding period of 2025.
Food inflation however, rose to 17.52 per cent year-on-year in June from 16.96 per cent in May, although it remained significantly lower than the 25.41 per cent recorded in June 2025.
The NBS attributed the movement in food prices to increases in the average prices of crayfish, fresh pepper, tomatoes, dried green peas, yam flour, water yam, beef, banana, cassava flour, cowpea, garri, Irish potatoes and yam tubers, among others.
Month-on-month, food inflation accelerated sharply to 3.75 per cent in June from 2.98 per cent in May, indicating stronger food price pressures during the month.
The average annual food inflation rate for the 12 months ending June 2026 stood at 16.42 per cent compared to 31.93 per cent recorded in June 2025.
Core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 15.92 per cent year-on-year in June compared to 25.41 per cent in the corresponding month of last year.
Month-on-month, however, core inflation moderated to 1.66 per cent from 1.94 per cent in May, suggesting easing pressures from non-food components of the inflation basket.
The average 12-month core inflation rate stood at 18.82 per cent, lower than the 26.88 per cent recorded in June 2025.
Urban inflation stood at 16.08 per cent year-on-year in June while month-on-month urban inflation rose slightly to 2.13 per cent from 1.99 per cent in May.
The average annual urban inflation rate for the 12 months ending June 2026 was 17.51 per cent compared to 31.64 per cent recorded a year earlier.
Similarly, rural inflation stood at 15.48 per cent year-on-year in June while month-on-month rural inflation slowed sharply to 0.52 per cent from 1.17 per cent recorded in May.
The average annual rural inflation rate for the 12-month period ended June 2026 was 17.54 per cent, lower than the 27.65 per cent reported in June 2025.
At the state level, year-on-year headline inflation was highest in Niger at 42.23 per cent, followed by Kogi 41.59 per cent, and the Federal Capital Territory (Abuja) at 39.91 per cent.
However, Imo recorded the lowest headline inflation rate at 19.47 per cent, followed by Ebonyi at 20.79 per cent and Katsina at 21.87 per cent.
Month-on-month, the highest increases in headline inflation were recorded in Niger at 11.65 per cent, Katsina 8.13 per cent, and Kwara at 7.52 per cent, while Bayelsa recorded -6.48 per cent, Benue -5.58 per cent and Cross River -5.12 per cent.
Food inflation on a year-on-year basis was highest in Kogi at 53.02 per cent, followed by Niger 43.83 per cent, and Benue at 40.83 per cent.
Meanwhile, Katsina recorded the slowest increase in food inflation at 19.15 per cent, followed by Rivers 23.81 per cent, and Imo at 24.60 per cent.
Month-on-month food inflation was highest in Katsina at 16.82 per cent, Kebbi 9.79 per cent, and Niger at 8.96 per cent.
However, Borno recorded the slowest movement in food prices at -3.54 per cent, while Benue and Bayelsa posted -2.36 per cent and -1.34 per cent respectively.
