Nigeria’s headline inflation eases to 21.88% in July 2025

Nigeria's headline inflation rate in July 2025 eased to 21.88%, a slight decrease from the previous month, according to data from the National Bureau of Statistics (NBS). This rate was higher than in July 2024 but lower than in June 2025.

The NBS reported that the average price level increased in July 2025 compared to the previous month. Urban inflation was lower in July 2025 compared to July 2024, while rural inflation also decreased.

Food inflation in July 2025 was slightly lower than in July 2024. The core inflation rate, which excludes prices of agricultural produce and energy, also declined in July 2025 compared to the previous year.

Professor David Adonri of Highcap Securities attributed the decrease in inflation to the ongoing harvest of staple crops like maize, yam, and cassava, which boosted market supply and reduced price pressures in the short term.