Nigeria’s headline inflation rate fell sharply to 22.22% in June 2025 from 34.19% in May 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The CPI itself rose to 123.4 in June 2025, up by 2.0 points from June 2024, reflecting continued price pressures despite the easing headline rate.
On a year-on-year basis, the headline inflation rate declined by 11.97 percentage points compared to June 2024. The drop is partly attributed to a change in the CPI base year to 2024, which has technically contributed to a lower reported rate.
On a month-on-month basis, headline inflation was 1.68% in June 2025, slightly higher than 1.53% recorded in May.
Urban vs. Rural Inflation
Urban inflation (year-on-year) fell to 22.72% in June 2025 from 36.55% in June 2024, a drop of 13.83 percentage points.
Rural inflation (year-on-year) dropped to 20.85% from 32.09%, down by 11.24 percentage points.
On a month-on-month basis, urban inflation was 2.11% (up from 1.40% in May), while rural inflation was 1.27% (down from 1.67% in May).
Food Inflation
Food inflation stood at 21.97% year-on-year in June 2025, sharply down from 40.87% in June 2024 — a decline of 18.90 percentage points.
On a month-on-month basis, food inflation was 3.25%, up from 2.19% in May.
The twelve-month average food inflation rate fell to 28.28% from 35.35% in the previous twelve-month period.
In June 2025, the highest year-on-year food inflation rates were recorded in Borno (47.40%), Ebonyi (30.62%), and Bayelsa (28.64%). States with the slowest increases included Katsina (6.21%), Adamawa (10.90%), and Sokoto (15.25%).
Core Inflation
Core inflation (which excludes volatile food and energy prices) eased to 22.76% year-on-year in June 2025, down from 27.40% in June 2024 (a decline of 4.64 percentage points).
On a month-on-month basis, core inflation was 2.46%, higher than May’s 1.10%.
The twelve-month average core inflation rate was 24.14%, slightly higher than 24.06% in June 2024.
Regional Highlights
All-items year-on-year inflation was highest in Borno (31.63%), Abuja (26.79%), and Benue (25.91%), while the lowest rates were in Zamfara (9.90%), Yobe (13.51%), and Sokoto (15.78%).
On a month-on-month basis, June 2025 recorded the highest all-items inflation increases in Ekiti (5.39%), Delta (5.15%), and Lagos (5.13%).
Food Price Drivers
Key contributors to rising food prices in June included Green Peas (dried), Fresh Pepper, Shrimps (white dried), Crayfish, Fresh Meat, Fresh Tomatoes, Plantain Flour, and Ground Pepper.
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