Nigeria’s Inflation Drops To 21.88% In July

Nigeria’s headline inflation eased to 21.88 percent in July 2025 from 22.22 percent in June, according to the National Bureau of Statistics (NBS).

The figure, disclosed in the bureau’s Consumer Price Index (CPI) report released on Friday, marks the fourth straight month of disinflation this year.

The NBS explained that the July headline inflation movement reflected 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 stated.

However, the agency noted that prices rose at a quicker pace month-on-month 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 said.

“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.

According to the bureau, food and non-alcoholic beverages, restaurants and accommodation services, and transport were the biggest contributors to the CPI during the review month.