Nigeria’s National Bureau of Statistics (NBS) has announced that the country’s headline inflation rate dropped to 21.88 per cent in July 2025, down from 22.22 per cent in June.

According to the monthly report of the NBS’s Consumer Price Index (CPI), which measures inflation, the figure represents the fourth consecutive drop in inflation rate recorded this year.

It explained that the July headline inflation movement showed a “decrease of 0.34% compared to the June 2025 headline inflation rate.”

The report added that on a year-on-year basis, the headline inflation rate was 11.52% lower than the rate recorded in July 2024 (33.40%).

However, the NBS said that on a month-to-month basis, price growth was faster in July than in June.

“On a month-on-month basis, the Headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025 (1.68%),” the NBS said.

“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,” the report said.

The NBS stated that food and non-alcoholic beverages, restaurants and accommodation services, and transport were the top contributors to the CPI in July.

GIK/APA