In June 2025, Nigeria’s headline inflation eased to 22.22% year-on-year, down from 22.97% in May—marking the third consecutive monthly decline, according to the National Bureau of Statistics . This follows a significant drop in January after the consumer price index was rebased, but the pace of decrease has since slowed .
However, this modest improvement masks ongoing economic strain:
– Food inflation remains elevated, rising from 21.14% to 21.97% in June .
– Month-on-month, the Consumer Price Index increased, signaling persistently rising prices for essentials like food, transport, and housing .
Economic hardship has fueled public discontent, as reflected in recent demonstrations protesting the high cost of living .
The Central Bank of Nigeria has held interest rates steady at recent meetings, awaiting more sustained disinflation before considering policy adjustments; it is set to meet again next week and could use these dynamics to guide future decisions .
