Nigeria's Inflation Drops to 15.91% Amid Rising Food Prices

According to the National Bureau of Statistics (NBS), Nigeria's headline inflation rate decreased to 15.91% in June 2026 from 15.93% in May 2026. This marks the first decline in three consecutive months of inflation increases, which were recorded at 15.06% in February, 15.38% in March, 15.69% in April, and 15.93% in May.

Despite this overall decline, food prices rose significantly, driven by increased costs of essential items such as fresh pepper, tomatoes, crayfish, beef, garri, and yam. Year-on-year food inflation stood at 17.52% in June 2026, compared to 25.41% in June 2025.

Month-on-month, food inflation accelerated to 3.75% from 2.98% in May. The report indicated that food and non-alcoholic beverages contributed 6.37 percentage points to the headline inflation, while transport and housing also played significant roles.

Urban inflation was recorded at 16.08%, while rural inflation stood at 15.48%.