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Nigerians Jubilate as NBS reveals Inflation Rate Dropped to 21.88%.
Nigeria’s headline inflation rate eased to 21.88% in July 2025 from 22.22% in June, according to the National Bureau of Statistics (NBS) Consumer Price Index report released Friday.
This marks the fourth consecutive month of disinflation this year. The NBS said the July figure reflects a 0.34 percentage point drop from June. Year-on-year, it was 11.52 points lower than July 2024’s 33.40%.
On a month-on-month basis, however, headline inflation rose to 1.99% in July, up from 1.68% in June — indicating prices increased at a slightly faster pace. Top contributors to the CPI were food and non-alcoholic beverages, restaurants and accommodation services, and transport.
Food inflation stood at 22.74% year-on-year in July, up from 21.97% in June but 16.79 points lower than July 2024’s 39.53%. The NBS attributed the sharp annual drop partly to a change in the base year.
Month-on-month food inflation was 3.12%, slightly lower than June’s 3.25%, due to declining prices in items like vegetable oil, beans, local rice, maize flour, sorghum, wheat flour, and millet.
The average annual food inflation rate for the 12 months ending July 2025 was 26.97%, down 9.39 points from the 36.36% recorded in the same period ending July 2024.
Nigeria’s headline inflation rate eased to 21.88% in July 2025 from 22.22% in June, according to the National Bureau of Statistics (NBS) Consumer Price Index report released Friday.
This marks the fourth consecutive month of disinflation this year. The NBS said the July figure reflects a 0.34 percentage point drop from June. Year-on-year, it was 11.52 points lower than July 2024’s 33.40%.
On a month-on-month basis, however, headline inflation rose to 1.99% in July, up from 1.68% in June — indicating prices increased at a slightly faster pace. Top contributors to the CPI were food and non-alcoholic beverages, restaurants and accommodation services, and transport.
Food inflation stood at 22.74% year-on-year in July, up from 21.97% in June but 16.79 points lower than July 2024’s 39.53%. The NBS attributed the sharp annual drop partly to a change in the base year.
Month-on-month food inflation was 3.12%, slightly lower than June’s 3.25%, due to declining prices in items like vegetable oil, beans, local rice, maize flour, sorghum, wheat flour, and millet.
The average annual food inflation rate for the 12 months ending July 2025 was 26.97%, down 9.39 points from the 36.36% recorded in the same period ending July 2024.
Nigerians Jubilate as NBS reveals Inflation Rate Dropped to 21.88%.
Nigeria’s headline inflation rate eased to 21.88% in July 2025 from 22.22% in June, according to the National Bureau of Statistics (NBS) Consumer Price Index report released Friday.
This marks the fourth consecutive month of disinflation this year. The NBS said the July figure reflects a 0.34 percentage point drop from June. Year-on-year, it was 11.52 points lower than July 2024’s 33.40%.
On a month-on-month basis, however, headline inflation rose to 1.99% in July, up from 1.68% in June — indicating prices increased at a slightly faster pace. Top contributors to the CPI were food and non-alcoholic beverages, restaurants and accommodation services, and transport.
Food inflation stood at 22.74% year-on-year in July, up from 21.97% in June but 16.79 points lower than July 2024’s 39.53%. The NBS attributed the sharp annual drop partly to a change in the base year.
Month-on-month food inflation was 3.12%, slightly lower than June’s 3.25%, due to declining prices in items like vegetable oil, beans, local rice, maize flour, sorghum, wheat flour, and millet.
The average annual food inflation rate for the 12 months ending July 2025 was 26.97%, down 9.39 points from the 36.36% recorded in the same period ending July 2024.
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