Nigeria’s inflation eases to 21.8%

Nigeria’s headline inflation rate eased further to 21.88 percent in July.

The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index (CPI) and Inflation Report for July, released on Friday in Abuja.

According to the agency, the headline inflation showed a decrease of 0.34 percent compared to the 22.22 percent recorded in June.

For “month-on-month,” the headline inflation rate in July was 1.99 percent, which was 0.31 percent higher than the 1.68 percent for June.

The report read: “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.”

READ ALSO: Again, Nigeria’s inflation rate drops to 22.2%

“The drop in the headline index for July was due to the increase in some items in the basket of goods and services at the divisional level.

“The three major contributors to the headline inflation were Food and non-alcoholic Beverages at 8.75 percent, Restaurants and Accommodation Services at 2.83 percent, and Transport at 2.33 percent.

“The least contributors were Recreation, Sport, and Culture at 0.07 percent, Alcoholic Beverages, Tobacco, and Narcotics at 0.08 percent, and Insurance and Financial Services at 0.10 percent.

“The headline food inflation rate in July 2025 was 22.74 per cent on a year-on-year basis, which was 16.79 percentage points lower compared to the rate recorded in July 2024 at 39.53 percent.

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

The post Nigeria’s inflation eases to 21.8% appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.