Nigeria’s headline inflation eased to 21.88% in July 2025, down from 22.15% in June, according to new data from the National Bureau of Statistics, NBS. The drop represents a 0.34% decline month-on-month.
On a monthly basis, inflation stood at 1.99% in July, which is 0.31% lower than June’s rate, reflecting persistent price pressures despite the overall slowdown.
Food inflation hit 22.74% year-on-year, being 16.79% lower than July 2024 following the rebasing of Consumer Price Index, CPI. Food and non-alcoholic beverages remain the biggest drivers of inflation, though the pace of increases has moderated.
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