BREAKING: Nigeria’s Inflation Rate Drops to 21.8%

Nigeria's headline inflation rate has decreased to 21.8% in July 2025, down from 22.3% in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). This represents a significant drop from the 25.8% rate recorded in July 2024.

Overall inflation has eased slightly, with the pace of price increases slowing down. The average CPI for the 12 months ending in July 2025 was 21.8%, compared to 22.8% in the same period in 2024.

Food inflation also saw a decline, dropping to 24.3% in July 2025 from 25.3% in July 2024. The core inflation rate, which excludes volatile agricultural products, fell to 18.1% from 19.1% a year earlier.