JUST-IN: Nigeria’s Inflation Eases Further To 21.88%

Nigeria’s headline inflation rate eased to 21.88% in July 2025, relative to the June 2025 rate of 22.22%, the National Bureau of Statistics (NBS) has revealed in its recent data.

The July 2025 inflation rate showed a decrease of 0.34% compared to the June 2025 headline inflation rate.
The food inflation rate in July 2025 was 22.74% on a year-on-year basis. This was 16.79% points lower compared to the rate recorded in July 2024 (39.53%).

The significant decline in the annual food inflation figure is technically due to the change in the base year.

According to the data, on a month-on-month basis, the food inflation rate in July 2025 was 3.12%, down by 0.14% compared to June 2025 (3.25%).

NBS attributed the decrease to average lower prices of vegetable oil, bean (white), rice local, maize, flour, guinea corn, wheat, and more others.

In July 2025, the headline rate on a year-on-year basis was 11.52% lower than the rate recorded in July 2024 (33.40%).

“This shows that the headline inflation rate (year-on-year basis) decreased in July 2025 compared to the same month in the preceding year (i.e., July 2024), though with a different base year, November 2009 = 100,” the NBS stated.

On a month-on-month basis, the inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025 (1.68%).

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.

The food inflation rate in July 2025 was 22.74% on a year-on-year basis. This was 16.79% points lower compared to the rate recorded in July 2024 (39.53%).

The significant decline in the annual food inflation figure is technically due to the change in the base year.

On a month-on-month basis, the food inflation rate in July 2025 was 3.12%, down by 0.14% compared to June 2025 (3.25%).