Nigeria’s inflation records first drop in three months ahead of CBN interest rate decision

Nigeria’s header ostentation dropped successful June 2026 for the archetypal clip since February arsenic the Central Bank of Nigeria, CBN, plans to marque a determination connected the country’s involvement complaint on July 21. 

The National Bureau of Statistics, successful its Consumer Price Index and ostentation information released connected Wednesday, said Nigeria’s header ostentation declined to 15.91 percent successful June from 15.93 percent successful May. 

On a month-on-month basis, the country’s header ostentation was 1.66 percent, which was 0.09 percent little than the complaint recorded successful May 2026 (1.75 percent). 

Meanwhile, nutrient ostentation roseate to 17.52 percent successful June, up from 16.69 percent recorded successful May. 

On a month-on-month basis, the nutrient ostentation complaint successful June 2026 was 3.75 percent, up by 0.77 percent points from May 2026 (2.98 percent). 

“The nutrient ostentation complaint successful June 2026 was 17.52 percent connected a year-on-year basis,” NBS stated. 

This means that nutrient prices are yet to easiness successful Nigeria.

The nutrient ostentation complaint was attributed to changes successful the mean prices of crayfish, capsicum (fresh), tomatoes (fresh), greenish peas (dried), caller pepper, yam flour (sold loose), h2o yam, beef, banana, cassava flour, cowpea, garri, Irish potatoes, yam tuber, among others.

The improvement comes arsenic the Central Bank of Nigeria fi...