Nigeria’s inflation rate for July fell to 21.8% as compared to June, which stood at 22.22%, the National Bureau of Statistics(NBS) said on Friday.
The Consumer Price Index (CPI) report indicates that the nation has experienced four consecutive drops in inflation for the year
In July 2025, the headline inflation rate eased to 21.88% relative to the June 2025 headline inflation rate of 22.22%.
”Headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025 (1.68%),” the report read.
It also revealed that July’s inflation rate eased to 3.12%, as compared to the previous month
Core inflation, which excludes the prices of volatile agricultural products and energy, stood at 21.33% in July 2025 on a year-on-year basis; a decline of 6.13% when compared to the 27.47% recorded in July 2024
“The food inflation rate in July 2025 was 22.74% on a year-on-year basis. 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%),” part of the report read.
The food and non-alcoholic beverages, restaurants and accommodation services, and transport were the top contributors to the CPI in the month under review.