Nigerian inflation makes it easy to 21.8%

Nigerian headline inflation rate alleviates to 21.88 percent in July.

The National Statistics Bureau (NBS) revealed this in the Consumer Price Report (CPI) and the inflation report for July, released on Friday in Abuja.

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

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

The report reads: “This means that in July 2025, the rate increase in the average price level was higher than the average price increase rate in June 2025.”

Also read: Again, Nigerian inflation rates fall to 22.2%

“The decline in the headline index for July is due to an increase in several items in the basket of goods and services at the division level.

“The three main contributors to the main inflation are food and non-alcoholic drinks by 8.75 percent, restaurants and accommodation services by 2.83 percent, and transportation 2.33 percent.

“The least contributors are recreation, sports and culture at 0.07 percent, alcoholic drinks, tobacco, and narcotics at 0.08 percent, and insurance and financial services by 0.10 percent.

“The level of inflation in the main food in July 2025 was 22.74 percent in the year-to-year base, which was 16.79 the percentage point was lower than the tariff recorded in July 2024 at 39.53 percent.

“A significant decrease in the annual food inflation rate is technically caused by changes in the basic year.”