NBS reports that inflation rate declines 3rd consecutive month to 22.22%

The National Bureau of Statistics, NBS, has reported that Nigeria’s headline inflation rate slowed by 0.75 percentage points to 22.22 percent in June from 22.97 percent in May 2025.

This represents the third consecutive month of decline since April 2025 when it slowed to 23.71 percent.

Disclosing this in its Consumer Price Index, CPI, report, the Bureau, however, reported that food inflation saw a 0.83 percentage point increase to 21.97 percent in June from 21.14 percent in May.

This according to NBS was driven by increase in the average prices of Green Peas (Dried), Pepper (Fresh), Shrimps (white dried), Crayfish, Meat (Fresh), Tomatoes (Fresh), Plantain Flour, Ground Pepper, etc.

NBS stated: “In June 2025, the Headline inflation rate eased to 22.22 percent relative to the May 2025 headline inflation rate of 22.97 percent.

“Looking at the movement, the June 2025 headline inflation rate showed a decrease of 0.75 percent compared to the May 2025 headline inflation rate.”

Though food inflation trended down year-on-year, NBS reported a significant upward trend month-on-month.

It stated: “The Food inflation rate in June 2025 was 21.97% on a year-on-year basis. This was 18.93% points lower compared to the rate recorded in June 2024 (40.87%).”

“The significant decline in the annual food inflation figure is technically due to the change in the base year.

“On a month-on-month basis, the Food inflation rate in June 2025 was 3.25%, up by 1.07% compared to May 2025 (2.19%). The increase can be attributed to the rate of increase in the average prices of Green Peas (Dried), Pepper (Fresh), Shrimps (white dried), Crayfish, Meat (Fresh), Tomatoes (Fresh), Plantain Flour, Ground Pepper, etc.”

According to NBS, in June 2025, food inflation on a Year-on-Year basis was highest in Borno (47.40%), Ebonyi (30.62%), Bayelsa (28.64%), while Katsina (6.21%), Adamawa (10.90%), and Sokoto (15.25%) recorded the slowest rise in food inflation on Year-on-Year basis.

“On a Month-on-Month basis, however, June 2025 food inflation was highest in Enugu (11.90%), Kwara (9.97%), and Rivers (9.88%) while Borno (-7.63%), Sokoto (-6.43%) and Bayelsa (-6.34%), recorded decline in Food inflation on MoM basis”, NBS added.