Inflation Eases to 15.91% in June Ahead of Key Rate Decision

Nigeria’s headline inflation slowed to 15.91 per cent in June 2026 — the first deceleration in five months — arriving just ahead of a closely watched interest-rate decision.

The timing matters enormously for monetary policy. A cooling print strengthens the case for the Monetary Policy Committee to hold rates steady rather than tighten further, after a long stretch of restrictive policy aimed at wringing price pressure out of the economy.

The slowdown will be read alongside the naira’s recent trajectory and the Central Bank’s aggressive liquidity management — including the surge in OMO operations over the first half of the year — as evidence that the disinflation strategy is gaining traction.

For households, the figure is cold comfort until it becomes a trend: prices are still rising, just more slowly. But for businesses planning borrowing and expansion, a peak in the rate cycle would be the most important signal of the year.

All eyes now turn to the MPC — whether it validates the disinflation narrative with a hold, or waits for a second consecutive slowdown before shifting stance.

Source: BusinessDay