Food inflation hits 17.52% but headline inflation eases

Food inflation persists in June
​Nigeria’s food inflation rate continued to rise, reaching 17.52 percent in June, up from 16.96 per cent in the previous month, according to a report from the National Bureau of Statistics.

​The Consumer Price Index (CPI) report released on Wednesday shows that on a month-on-month basis, the food inflation rate in June 2026 was 3.75 percent, an increase of 0.77 percentage points from May 2026 (2.98 percent).

​The Bureau attributed this rise to shifts in the average prices of various items, including crayfish, fresh pepper, tomatoes, dried green peas, yam flour, water yam, beef, banana, cassava flour, cowpea, garri, Irish potatoes, and yam tuber.

​Regional variations in food costs

​On a year-on-year basis, food inflation was highest in Kogi (53.02 per cent), Niger (43.83 per cent), and Benue (40.83 per cent). Conversely, Katsina (19.15 per cent), Rivers (23.81 per cent), and Imo (24.60 per cent) recorded the slowest rates of increase.

​Regarding month-on-month changes, June 2026 food inflation was highest in Katsina (16.82 per cent), Kebbi (9.79 per cent), and Niger (8.96 per cent). Borno (-3.54 per cent), Benue (-2.36 per cent), and Bayelsa (-1.34 per cent) saw the slowest increases.

​Headline and core inflation trends

​The year-on-year headline inflation rate for June 2026 stood at 15.91 per cent, compared to 15.93 per cent in May 2026 and 25.29 per cent in June 2025. On a month-on-month basis, the headline inflation rate was 1.66 per cent, which was 0.09 percentage points lower than the 1.75 per cent recorded in May 2026.

​The three primary contributors to headline inflation were food and non-alcoholic beverages (6.37 per cent), restaurants and accommodation services (2.06 per cent), and transport (1.70 per cent). The least contributors were recreation, sport, and culture (0.05 per cent), alcoholic beverages, tobacco, and narcotics (0.06 per cent), and insurance and financial services (0.07 per cent).

​Core inflation, which excludes volatile agricultural produce and energy prices, stood at 15.92 per cent in June 2026 on a year-on-year basis. On a month-on-month basis, the core inflation rate was 1.66 per cent, a decrease of 0.28 percentage points compared to May 2026 (1.94 per cent).