Nigeria’s Inflation Rate Slows To 20.12% In August – NBS

Nigeria’s headline inflation rate eased to 20.12 per cent in August 2025, down from 21.88 per cent recorded in July, according to the latest data released by the National Bureau of Statistics (NBS) on Monday.

The figure represents a 1.76 percentage point decline from the July rate, indicating a slowdown in the rate of increase in prices across the country.

On a year-on-year basis, the August 2025 inflation rate was 12.03 percentage points lower than the 32.15 per cent recorded in August 2024. This suggests a significant moderation in inflationary pressures compared to the same period last year, though measured against the November 2009 = 100 base year.

Month-on-month, the headline inflation rate stood at 0.74 per cent in August 2025, representing a 1.25 percentage point decrease from the 1.99 per cent recorded in July. The NBS noted that the average price level in August rose at a slower pace compared to the previous month.

The data further showed that the percentage change in the average Consumer Price Index (CPI) for the twelve months ending August 2025 was 24.66 per cent. This marked a 6.6 percentage point drop compared to 31.26 per cent reported in August 2024.

Breaking down the figures, the urban inflation rate on a year-on-year basis stood at 19.75 per cent in August 2025, 14.83 percentage points lower than the 34.58 per cent recorded in the same month of 2024. On a month-on-month basis, urban inflation was 0.49 per cent in August, down from 1.86 per cent in July, reflecting a decline of 1.37 percentage points.

The twelve-month average for urban inflation was put at 25.81 per cent in August 2025, compared to 33.44 per cent in August 2024 — a decrease of 7.63 percentage points.

Similarly, rural inflation eased to 20.28 per cent year-on-year in August 2025, down from 29.95 per cent in August 2024. On a month-on-month basis, rural inflation stood at 1.38 per cent, lower than the 2.30 per cent recorded in July 2025, representing a 0.92 percentage point drop.

The 12-month average rural inflation was 23.07 per cent in August 2025, compared to 29.32 per cent in August 2024, showing a 6.25 percentage point decline.