Nigeria’s headline inflation rate dropped to 21.88% in July 2025, the lowest level in more than a year, according to the National Bureau of Statistics (NBS).
The latest Consumer Price Index (CPI) report, released on Friday, shows inflation eased from 22.22% in June, marking the fourth straight month of disinflation.
The July figure represents a 0.34 percentage point decline from the previous month and a sharp 11.52 percentage point drop from the 33.40% recorded in July 2024.
However, the NBS noted that prices still rose faster compared to the previous month on a month-to-month basis. Inflation stood at 1.99% in July, up from 1.68% in June — an increase of 0.31 percentage points.
“This means that in July 2025, the rate of increase in the average price level was higher than the rate of increase in June 2025,” the report explained.
Food and non-alcoholic beverages, restaurants and accommodation services, and transport remained the major drivers of the CPI during the period under review.
Source: African Publicity