Nigeria’s headline inflation rate dropped to 21.88% in July 2025 from 22.22% in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Friday.
The bureau said the July figure marks the fourth consecutive monthly decline in headline inflation this year, representing a 0.34% decrease compared to June’s rate.
On a year-on-year basis, the July 2025 inflation rate was 11.52% lower than the 33.40% recorded in July 2024, reflecting a significant moderation in price pressures over the past 12 months.
However, the NBS noted that monthly price increases were faster in July. The month-on-month headline inflation rate stood at 1.99%, up by 0.31% from the 1.68% recorded in June 2025.
“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 report explained.
The statistics agency listed food and non-alcoholic beverages, restaurants and accommodation services, and transport as the top contributors to the CPI in July.
