The National Bureau of Statistics reported that the national headline inflation rate dipped slightly by 0.02 percentage points in June 2026, reaching 15.91 percent compared to 15.93 percent in May. This minor decline follows three consecutive months of increases starting in March 2026.
While the overall inflation rate eased, the cost of food items accelerated. The food index rose by 0.56 percentage points to 17.52 percent in June, up from 16.96 percent in May. This surge was attributed to price hikes in staples such as tomatoes, fresh and dried peppers, beef, yam, cassava flour, garri, and cow peas. The agency noted that the general inflation dip was largely supported by a 0.9 percent reduction in the core inflation basket.
Data from the Consumer Price Index shows that the year-on-year food inflation rate hit 17.52 percent, with month-on-month figures showing a 3.75 percent increase, up from 2.98 percent in May. Regional data highlighted that Kogi, Niger, and Benue experienced the highest year-on-year food inflation, whereas Katsina, Rivers, and Imo reported the lowest annual increases. For monthly changes, Katsina, Kebbi, and Niger saw the sharpest rises, while Borno, Benue, and Bayelsa recorded negative growth in food prices.
