Nigeria’s annual inflation rate fell to 22.22% in June 2025, down from 22.97% recorded in May, the National Bureau of Statistics (NBS) said on Wednesday.
According to the bureau, the June 2025 headline inflation rate reflected a decrease of 0.76 percentage points compared to the previous month.
On a year-on-year basis, the inflation rate was 11.97 percentage points lower than the 34.19% recorded in June 2024.
This decline, NBS noted, indicates a significant drop in headline inflation compared to the same month last year, using the base year November 2009 = 100.
However, on a month-on-month basis, the headline inflation rate rose to 1.68% in June, slightly higher than the 1.53% recorded in May.
“This means that in June 2025, the average price level increased at a faster rate than it did in May 2025,” the bureau stated.
Food inflation stood at 21.97% year-on-year in June 2025, marking a drop of 18.90 percentage points from the 40.87% recorded in June 2024.
However, on a monthly basis, food inflation spiked to 3.25%, driven largely by rising prices of staple items such as tomatoes, pepper, crayfish, and plantain flour.
Core inflation, which excludes prices of volatile agricultural products and energy, declined to 22.76% year-on-year but rose to 2.46% on a monthly basis, indicating renewed pressure on non-food goods and services.
Urban inflation dropped to 22.72% year-on-year but increased to 2.11% month-on-month. Rural inflation eased to 20.85% year-on-year and slowed further to 0.63% on a monthly basis.
Among states, Borno recorded the highest inflation rate at 31.63%, while Zamfara posted the lowest at 9.90%, according to the report
