FX.co ★ Nigeria Inflation Rate Slows for 3rd Month

In June 2025, Nigeria's annual inflation rate declined for the third consecutive month, dropping to 22.22%. This marks the lowest rate observed since April 2023, coming down from 22.97% in May, primarily attributed to an appreciating naira. Food inflation, which constitutes the largest portion of the inflation basket, experienced a slight reduction, easing to 21.97% from the previous month's 21.14%. On a month-to-month basis, consumer prices increased by 1.70% in June, following a 1.53% rise in May.