Nigeria’s headline inflation rate eased to 21.88 percent in July 2025, down from 22.22 percent recorded in June, according to the National Bureau of Statistics (NBS).
The data, captured in the Consumer Price Index (CPI) report, marks the fourth consecutive month of disinflation this year. The July figure reflects a 0.34 percentage point drop compared to the previous month.
Year-on-year, inflation was 11.52 percentage points lower than the 33.40 percent recorded in July 2024.
However, on a month-to-month basis, the NBS noted that price growth was slightly faster in July, with the headline inflation rate standing at 1.99 percent compared to 1.68 percent in June. This indicates that while inflation slowed overall, prices still rose at a quicker pace during the month.
The report identified food and non-alcoholic beverages, restaurants and accommodation services, and transport as the main contributors to July’s inflation
