June 2025 Nigeria inflation data shows headline rate falling to 22.22%, down 0.75% from May, signalling annual relief but monthly pressures remain strong

Headline inflation in Nigeria eased to 22.22 per cent in June 2025, a decline from May’s 22.97 per cent, according to data released by the National Bureau of Statistics on Wednesday.

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The year-on-year drop of 11.97 percentage points, from 34.19 per cent in June 2024, reflects annual relief, though this is partly due to a new base year (2024).

On a monthly basis, inflation rose to 1.68 per cent from 1.53 per cent in May, indicating that while yearly pressures are easing, costs are still climbing each month.

“The Consumer Price Index rose to 123.4 in June 2025, reflecting a 2.0-point increase from the preceding month,” the NBS said.

Food inflation stood at 21.97 per cent year-on-year, down from 40.87 per cent in June 2024, but it rose sharply to 3.25 per cent month-on-month, driven by increased prices of tomatoes, crayfish, meat, and plantain flour.

The twelve-month average for food inflation fell to 28.28 per cent, from 35.3 per cent the previous year.

Core inflation, excluding energy and agricultural items, dropped to 22.76 per cent year-on-year but increased month-on-month to 2.46 per cent, showing signs of renewed non-food price pressures.

Urban inflation dropped to 22.72 per cent, while rural inflation eased to 20.85 per cent. However, the pace of monthly price increases was higher in urban areas.

State-level data showed Borno recorded the highest year-on-year inflation (31.63%), followed by Abuja (26.79%) and Benue (25.91%). The slowest rates were seen in Zamfara (9.90%), Yobe (13.51%), and Sokoto (15.78%).

“While the drop in annual inflation is welcome, the continued rise in monthly inflation shows Nigerians still face high cost-of-living pressures,” an analyst noted.