Inflation trended down in the month of June 2025 to 22.22% relative to the May 2025 headline inflation rate of 22.97%, National Bureau of Statistics (NBS) disclosed in its Consumer Price Index ( CPI) report released on Wednesday.
The latest CPI figure for the June 2025 showed a decrease of 0.76% compared to the May 2025 headline inflation.
On a year-on-year basis, the headline inflation rate was 11.97% lower than the rate recorded in June 2024 (34.19%).
This shows that the Headline inflation rate (year-on-year basis) decreased in June 2025 compared to the same month in the preceding year . Analyse further on a month-on-month basis, inflation rate in June 2025 was 1.68%, which was 0.15% higher than the rate recorded in May 2025 (1.53%). This means that in June 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in May 2025.
“The food inflation rate in June 2025 was 21.97% on a year-on-year basis. This was 18.90% points lower compared to the rate recorded in June 2024 (40.87%). The significant decline in the annual food inflation figure is technically due to the change in the base year”. On a month-on-month basis, the food inflation rate in June 2025 was 3.25%, up by 1.07% compared to May 2025 (2.19%). The increase can be attributed to the rate of increase in the average prices of green peas (dried), pepper (fresh), shrimps (white dried), crayfish, meat (fresh), tomatoes (fresh), plantain flour, ground pepper, etc”.
“The average annual rate of Food inflation for the twelve months ending June 2025 over the previous twelve-month average was 28.28%, which was 7.06% points lower compared with the average annual rate of change recorded in June 2024 (35.35%)”, explained NBS.
For core inflation -all items less farm produces and energy”, which excludes the prices of volatile agricultural produce and energy, NBS said it stood at 22.76% in June 2025 on a year-on-year basis. It declined by 4.64% when compared to the 27.4% recorded in June 2024.
“On a month-on-month basis, the core Inflation rate was 2.46% in June 2025, up by 1.36% compared to May 2025 (1.10%). The average twelve-month annual inflation rate was 24.14% for the twelve months ending June 2025, which was 0.07% points higher than the 24.06% recorded in June 2024”.
Inflation figures vary across states.
In June 2025, all Items inflation rate on a Year-on-Year basis was highest in Borno (31.63%), Abuja (26.79%), and Benue (25.91%), while Zamfara (9.90%), Yobe (13.51%), Sokoto (15.78%) recorded the lowest rise in Headline inflation on Year-on-Year basis. On a Month-on-Month basis, however, June 2025 recorded the highest increases in Ekiti (5.39%), Delta (5.15%), Lagos (5.13%), while Zamfara (-6.89%), Niger (-5.35%) and Plateau (-4.01%) recorded the lowest rise in Monthon-Month inflation.
In June 2025, food inflation on a Year-on-Year basis was highest in Borno (47.40%), Ebonyi
(30.62%), Bayelsa (28.64%), while Katsina (6.21%), Adamawa (10.90%), and Sokoto (15.25%)
recorded the slowest rise in Food inflation on Year-on-Year basis.
On a Month-on-Month basis,
however, June 2025 Food inflation was highest in Enugu (11.90%), Kwara (9.97%), and Rivers (9.88%) while Borno (-7.63%), Sokoto (-6.43%) and Bayelsa (-6.34%), recorded decline in Food inflation on Month-on-Month basis.
