Nigeria's Inflation Rate Falls to 15.91% in June 2026

The National Bureau of Statistics (NBS) reported that Nigeria's inflation rate decreased to 15.91% in June 2026, a reduction from 15.93% recorded in May 2026. The month-on-month headline inflation rate for June 2026 was 1.66%, which is 0.09% lower than the rate in May 2026, which was 1.75%.

Major contributors to the headline inflation included food and non-alcoholic beverages at 6.37%, restaurants and accommodation services at 2.06%, and transport at 1.70%. The least contributors were recreation, sport, and culture at 0.05%, alcohol, beverages, tobacco, and narcotics at 0.06%, and insurance and financial services at 0.07%.

Year-on-year food inflation was recorded at 17.52%, down from 25.41% in June 2025. Month-on-month food inflation for June 2026 was 3.75%, a decrease of 0.77 percentage points from May 2026's 2.98%.

Core inflation, which excludes volatile agricultural products and energy prices, stood at 15.92% in June 2026, reflecting a year-on-year decline of 9.49% compared to June 2025.