Nigeria’s inflation rate falls to 21.8%, says  NBS

Nigeria’s headline inflation rate fell from 22.22% in June to 21.88% in July 2025, so says the National Bureau of Statistics (NBS).

This was contained in the bureau’s Consumer Price Index (CPI) report, which was released on Friday. This figure represents the fourth consecutive disinflation recorded this year.

According to the NBS, the July headline inflation movement showed a “decrease of 0.34% compared to the June 2025 headline inflation rate.”

“On a year-on-year basis, the headline inflation rate was 11.52% lower than the rate recorded in July 2024 (33.40%),” the report said.

The NBS, however, noted that on a month-to-month basis, price growth was faster in July than in June.
“On a month-on-month basis, the Headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025 (1.68%),” the NBS stated.

“This means that in July 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in June 2025,” it added.

The bureau said food and non-alcoholic beverages, restaurants and accommodation services, and transport were the top contributors to the CPI in the review month.