Nigeria’s headline inflation rate has declined to 22.22 percent in June 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). This marks a significant drop from the 22.97 percent recorded in May 2025.
The report indicates a 0.75 percentage point reduction in the year-on-year inflation rate and an 11.97 percentage point decline compared to the 34.1 percent reported in June 2024.
However, on a month-on-month basis, the inflation rate edged up slightly to 1.68 percent in June 2025, from 1.53 percent in May. This modest uptick suggests a slight acceleration in the average price increase within the month.
The NBS urged cautious interpretation of state-level inflation figures, noting that CPI weights vary due to differences in consumption patterns across the country. As a result, regional inflation rates may not be directly comparable.
Analysts say the new figures could signal the early impact of ongoing monetary policy tightening and fiscal reforms aimed at stabilising Nigeria’s macroeconomic environment.