Nigeria’s July inflation report signals cautious optimism amid persistent risks – CPPE

The CPPE Centre Promotion Private Enterprise commented on Nigeria's July 2025 inflation report, noting a mixed bag of progress and persistent risks. The headline inflation decreased for the fourth consecutive month in July, with food inflation also showing a slight moderation.

Core inflation saw a marginal decline, attributed to a stabilizing macroeconomic environment and improved investor sentiment. However, Muda Yusuf of CPPE warned against premature celebration, as headline inflation rose in June and July, reflecting the economy's exposure to shocks and structural inefficiencies.

The report highlighted the need for policy priorities to address lingering inflationary pressures. Urban inflation in Nigeria stood lower in July 2025 compared to the same period in 2024, while rural inflation also showed a decrease.