Inflation eased ever so slightly in June, the National Bureau of Statistics (NBS) said on Wednesday. The Consumer Price Index (CPI) — which tracks price changes for goods and services — slipped to 15.91% in June from 15.93% in May. It’s the first drop in headline inflation after three straight monthly rises, a small relief even if prices are still high.
Month-on-month, headline inflation slowed to 1.66% in June from 1.75% in May, showing prices rose more slowly than the month before. The CPI index itself moved to 143.0 points in June from 140.7 in May, a 2.3-point increase in the general price level.
Looking at the year to June, average annual headline inflation for the 12 months ending June 2026 was 18.03%, a sharp fall from 30.44% for the same period in 2025.
Food was less kind. Food inflation rose to 17.52% year-on-year in June from 16.96% in May, though it’s still well below the 25.41% seen in June 2025. The NBS blamed higher average prices for crayfish, fresh pepper, tomatoes, dried green peas, yam flour, water yam, beef, banana, cassava flour, cowpea, garri, Irish potatoes and yam tubers. Month-on-month, food inflation jumped to 3.75% in June from 2.98% in May, signaling stronger food price pressure during the month.
