Nigeria’s Inflation Rate Falls to 15.91% as Food Prices Climb
Nigeria’s headline inflation rate dropped slightly to 15.91 per cent in June 2026 from 15.93 per cent recorded in May, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Wednesday.
The report also showed that inflation slowed on a month-on-month basis, with the headline rate falling to 1.66 per cent in June from 1.75 per cent in May, indicating that the pace of overall price increases eased during the month.
Despite the slight decline in headline inflation, food prices continued to rise. The NBS said food inflation stood at 17.52 per cent on a year-on-year basis in June.
On a monthly basis, food inflation accelerated to 3.75 per cent in June, up from 2.98 per cent recorded in May, showing renewed pressure on the cost of food across the country despite the moderation in overall inflation.
The latest inflation figures come weeks after the Presidency confirmed that plans are underway to review the current national minimum wage, saying the prevailing economic realities have made the existing salary structure unsustainable.
Chief of Staff to the President, Femi Gbajabiamila, made the disclosure in Abuja during an event organised by Working People United.
According to him, the current N70,000 minimum wage introduced under President Bola Tinubu’s administration in 2024 “is no longer capable of meeting the practical economic demands faced by citizens across the nation.”
He added that “the current fiscal environment necessitates a thorough re-evaluation of what constitutes a living baseline for Nigerian workers.”
