Nigeria’s inflation fee dropped for the fourth month in a row in July, settling at 21.88 per cent from 22.22 per cent in June, in response to new figures from the National Bureau of Statistics (NBS).
The knowledge, launched on Friday, August 15, exhibits the tempo of value will increase is slowing in comparison with final yr.
Inflation was 33.40 per cent in July 2024, that means the annual fee has fallen by 11.52 share factors over the previous yr.
The NBS famous that the Consumer Price Index (CPI), which tracks modifications in the price of items and providers, rose to 125.9 factors in July, up from 123.4 factors in June.
“Looking at the movement, the July 2025 Headline inflation rate showed a decrease of 0.34 per cent compared to the June 2025 rate,” the bureau said, explaining that the sharp drop from final yr was partly as a result of a current change within the CPI’s base yr.
However, regardless of the slowdown in annual inflation, costs are nonetheless climbing month by month.
Month-on-month inflation rose to 1.99 per cent in July from 1.68 per cent in June, signalling continued price pressures on households.
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Food costs stay a significant driver. Food inflation stood at 22.74 per cent year-on-year in July, down from 39.53 per cent a yr earlier.
On a month-to-month foundation, meals prices elevated by 3.12 per cent, barely lower than June’s 3.25 per cent rise. Slower value hikes have been recorded for objects like vegetable oil, native rice, maize flour, guinea corn, wheat flour and millet.
Urban inflation got here in at 22.01 per cent year-on-year, whereas rural inflation was 21.08 per cent. Rural areas, nonetheless, noticed quicker month-to-month will increase at 2.30 per cent in comparison with 1.86 per cent in cities.
Core inflation, which strips out risky meals and vitality costs, slowed to 21.33 per cent in July from 27.47 per cent a yr earlier. On a month-to-month foundation, it fell to 0.97 per cent from 2.46 per cent in June, exhibiting a softer rise in non-food items and providers.
Across the states, Borno (34.52 per cent), Niger (27.18 per cent) and Benue (25.73 per cent) posted the very best annual inflation charges. Yobe (11.43 per cent), Zamfara (12.75 per cent) and Katsina (15.64 per cent) recorded the bottom.
While the slowdown in headline inflation affords some aid on paper, the regular month-to-month will increase imply many Nigerians are nonetheless scuffling with a excessive price of residing.Nigeria’s inflation eased to 21.88% in July from 22.22% in June, however rising month-to-month prices maintain strain on households nationwide.
