Nigeria’s headline inflation rate has eased for the third consecutive month, declining to 22.22% in June 2025 from 22.97% in May.
According to data from the National Bureau of Statistics (NBS), the June inflation rate showed a 0.75% decrease compared to the previous month.
Persecondnews earlier reported that the United Kingdom’s consumer price index (CPI) has increased to 3.6 percent in June from 3.4 percent in May, according to the UK Office for National Statistics (ONS).
The office said the rise is attributed to higher food and transport prices, particularly motor fuel.
NBS stated that on a year-on-year basis, the headline inflation rate was 11.97% lower than the 34.19% recorded in June 2024.
This significant drop indicates a decrease in the overall price level compared to the same period last year.
The NBS uses a different base year (November 2009 = 100) for its calculations.
The food inflation rate stood at 21.97% year-on-year in June 2025, while the core inflation rate, which excludes volatile food and energy prices, was 22.76% year-on-year.
These rates provide insight into the country’s inflation landscape, with food prices playing a substantial role in shaping the overall inflation trend.
On a month-on-month basis, the headline inflation rate in June 2025 was 1.68%, which is 0.15% higher than the 1.53% recorded in May 2025.
This suggests that the rate of increase in average prices was slightly higher in June compared to the previous month.
The decline in the year-on-year inflation rate is a positive development, indicating a decrease in the overall price level compared to the same period last year.
However, the month-on-month increase suggests that prices are still rising, albeit at a slower pace. The government and monetary authorities will need to continue monitoring the inflation trend to ensure price stability is maintained.
UK Office for National Statistics (ONS) reported that food and non-alcoholic drink prices increased by 4.5 percent in the year to June, the highest rate since February 2024.
Richard Heys, ONS acting chief economist, said: “Inflation ticked up in June driven mainly by motor fuel prices which fell only slightly, compared with a much larger decrease at this time last year.”
Heys added: “Food price inflation has increased for the third month to its highest annual rate since February 2024.”
The consumer prices index, including owner occupiers’ housing costs (CPIH), rose by 4.1 percent in the 12 months to June, slightly up from 4.0 percent in May.
The ONS noted that the CPIH goods annual rate rose from 2.0% to 2.4%, while the CPIH services annual rate eased slightly from 5.3% to 5.2%.
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