Nigeria’s headline inflation rate fell to 21.88% in July 2025, down from 22.22% in June, according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS).
This marks the fourth consecutive month of disinflation in 2025. The July figure represents a 0.34 percentage point decline from June’s rate and is 11.52 percentage points lower than the 33.40% recorded in July 2024.
However, the NBS noted that prices increased faster compared to the previous month. Month-on-month inflation rose to 1.99% in July from 1.68% in June, a 0.31 percentage point jump.
“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 stated.
Food and non-alcoholic beverages, restaurants and accommodation services, and transport remained the biggest contributors to inflation during the month.
