Nigeria’s headline inflation rate declined to 22.22% in June 2025, marking a 0.75 percentage point drop from 22.97% recorded in May, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
Despite this easing, the CPI rose from 121.4 in May to 123.4 in June, indicating a 2.0-point increase and suggesting a continued rise in average price levels across the country.
According to the report, on a year-on-year basis, the headline inflation rate stood at 22.22% in June, which is 11.97 percentage points lower than the 34.19% recorded in June 2024, reflecting some improvement in price stability compared to the same period last year.
However, on a month-on-month basis, inflation ticked slightly upward.
The report shows that prices rose by 1.68% in June, compared to a 1.53% increase in May — a 0.15 percentage point acceleration in the rate of price increases within the month.
The report shows that urban inflation remained relatively high but showed signs of moderation.
The urban inflation rate declined to 22.72% year-on-year in June 2025, significantly lower than the 36.55% recorded in June 2024. On a month-on-month basis, however, urban inflation rose to 2.11%, up from 1.40% in May.
The twelve-month average for urban inflation also declined to 28.16% in June 2025, down by 3.92 percentage points from 32.08% in the same period last year.
Rural inflation followed a similar trend. The rural inflation rate decreased to 20.85% year-on-year in June 2025, compared to 32.09% in June 2024.
However, monthly rural inflation slowed to 0.63%, a notable decline from 1.83% in May — a drop of 1.2 percentage points.
The twelve-month average for rural inflation in June stood at 24.65%, representing a 3.5 percentage point drop from 28.15% recorded in June 2024.
The data suggests that while Nigeria continues to experience rising consumer prices, the overall pace of inflation is gradually easing, especially when compared to the sharp increases recorded in 2024.
Analysts say the moderation could be linked to a tighter monetary environment and base effects, although month-on-month figures point to persistent pressures in urban areas.
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