NIGERIA: Inflation Eases to 22.22% In June, Says NBS

By Ameenat Hamzat, Lagos, Nigeria 

The National Bureau of Statistics (NBS) has announced a decline in Nigeria’s inflation rate, reporting a drop to 22.22% in June 2025, down from 22.97% recorded in May 2025.

This development was disclosed in the NBS Consumer Price Index (CPI) Report for June, released on Wednesday in Abuja.

The report noted: “In June 2025, the Headline inflation rate eased to 22.22% relative to the May 2025 headline inflation rate of 22.97%.”

According to the NBS, the CPI rose to 123.4 in June, an increase of two points from 121.4 in May, indicating a change in the average price level across the economy.

The latest figures also show that year-on-year, the June 2025 headline inflation rate was 11.97% lower than the 34.19% recorded in June 2024, reflecting significant progress in stabilizing price levels.

However, on a month-on-month basis, the headline inflation rate stood at 1.68% in June, slightly above May’s 1.53%, meaning that while inflation is easing annually, the average price level rose faster in June than in the previous month.

The NBS emphasized that despite the base year difference (with November 2009 = 100), the headline figures still indicate a moderate but hopeful outlook for Nigeria’s economic recovery and macroeconomic stability.