Inflation in Nigeria slowed for the third consecutive month in June, with shopper costs rising year-on-year to 22.22 p.c, providing a possible reduction forward of the Financial Coverage Committee’s (MPC) essential rate of interest choice.
Nigeria’s headline inflation fee slowed for the third consecutive month to 22.22 p.c in June 2025 from 22.97 p.c in Might, based on the Nationwide Bureau of Statistics (NBS)
On a month-on-month foundation, inflation declined considerably to 1.68 p.c in June from 1.53 p.c in Might, indicating a better tempo of value rise throughout the financial system.
The Central Financial institution of Nigeria (CBN) has introduced that the 301st assembly of the Financial Coverage Committee (MPC), the place key rate of interest selections are made, will happen on Monday, July 21, and Tuesday, July 22, 2025.
Throughout the Might assembly, the MPC had warned that reinflationary pressures have been nonetheless vital, arguing that sustaining elevated rates of interest was essential to mitigate these dangers. The Committee additionally raised considerations that any untimely fee minimize may destabilise the naira, particularly as the present FX fee beneficial properties have been supported by engaging yields on Open Market Operation (OMO) payments.
Meals inflation declined sharply year-on-year to 21.97 p.c in June from 21.14 p.c in Might. In line with the NBS, this sharp decline is basically attributed to base-year results following the inflation rebasing methodology.
On a month-on-month foundation, nonetheless, meals inflation elevated marginally to three.25percent in June from 2.19 p.c in Might. The worth enhance was led by staple meals such asGreen Peas (Dried), Pepper (Contemporary), Shrimps (white dried), Crayfish, Meat (Contemporary), Tomatoes (Contemporary), Plantain Flour, Floor Pepper, and so on.
