Abuja, July 17, 2025 – Nigeria’s inflation rate dropped to 22.22% in June from 22.97% in May 2025.
The National Bureau of Statistic (NBS) reported this in its latest Consumer Price Index (CPI) and Inflation Report released on Wednesday.
It said the inflation rate in June was lower by 0.76% than the May 2025 inflation rate.
The NBS also said that, on year-on-year basis, the inflation rate was 11.97% lower than the 34.19% in June 2024
It identified the three major contributors to the headline inflation on a year-on-year basis as food and non-alcoholic beverages at 8.89% per cent, restaurants and accommodation services at 2.87% and transport at 2.37%.
The report said the food inflation rate in June 2025 at 21.97 per cent, on a year-on-year basis, was 18.90 per cent points lower to the rate recorded in June 2024 at 40.87 per cent.
It said the significant decline in the annual food inflation figure is technically due to the change in the base year.
The report identified the least contributors as recreation, sport, and culture at 0.07%, alcoholic beverages, tobacco, and narcotics at 0.08% and insurance and financial services at 0.10% .
