July 17, 2026/Coronation Report
Summary
According to data from the National Bureau of Statistics (NBS), Nigeria’s headline inflation eased marginally in June 2026, slowing 2bps to 15.91% y/y from 15.93% y/y in May, marking its first moderation after three consecutive months of increase, as the deceleration in core inflation (15.92% y/y vs 16.82%) offsets a continued uptick in food inflation (17.52% y/y in June from 16.96% y/y in May).
Similarly, on a month-on-month (MoM) basis, headline inflation declined by 9bps to 1.66% from 1.75%, reflecting cooling energy prices.