Nigeria’s Inflation Rate Drops to 22.22% in June 2025, Food Inflation Sees Significant Decline

Nigeria’s inflation rate eased to 22.22% in June 2025, signaling continued moderation in headline consumer price growth, according to the latest figures released by the National Bureau of Statistics (NBS). This marks a decline from the 22.97% recorded in May 2025 and reflects one of the lowest monthly inflation readings seen this year.

Fell to 22.22% in June 2025, down by 0.75 percentage points from 22.97% in May.
Dropped to 21.97% year-on-year, a significant decrease compared to 40.87% in June 2024.
Headline inflation stood at 1.68% in June slightly higher than the 1.53% recorded in May, indicating a modest uptick in the monthly rate of price increases.

The significant inflation drop followed the implementation of a new base year in the Consumer Price Index, with the NBS highlighting that household cost pressures remain high.

The reduced food inflation figure was driven by a year-on-year decrease but, month-on-month, food prices rose 3.25% in June—higher than the 2.19% rise seen in May. The rise in prices for essentials such as tomatoes, peppers, crayfish, plantain flour, and meat contributed to short-term volatility.

While the year-on-year inflation decline offers a positive signal for economic policymakers and households, the NBS cautioned that upward pressures continue in the short term as reflected in higher month-on-month inflation rates.

Further reforms and stabilization measures may be needed to anchor expectations and support sustainable value for the naira.

The central bank and government will be monitoring trends closely as inflation remains a key indicator for economic stability and living costs nationwide.