Nigeria’s headline inflation eased to 21.88% in July 2025, down from 22.22% in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Friday. This represents a 0.34% decrease from the previous month’s rate.
The CPI rose to 125.9 in July from 123.4 in June, reflecting a 2.5-point increase. Year-on-year, inflation dropped sharply by 11.52 percentage points from 33.40% in July 2024. However, month-on-month, headline inflation climbed to 1.99%, up from 1.68% in June, indicating a faster pace of price increases.
Urban inflation stood at 22.01% year-on-year, down from 35.77% in July 2024. Food inflation eased to 22.74% year-on-year, 16.79 percentage points lower than the 39.53% recorded a year earlier. On a monthly basis, food inflation fell slightly to 3.12% from 3.25% in June, largely due to lower prices of key items such as vegetable oil, local rice, and maize flour.
By state, Borno (34.52%), Niger (27.18%), and Benue (25.73%) recorded the highest year-on-year inflation rates, while Yobe (11.43%), Zamfara (12.75%), and Katsina (15.64%) posted the lowest. Month-on-month, Borno (6.11%), Zamfara (5.72%), and Kano (4.31%) saw the steepest increases, while Bauchi (0.26%), Katsina (0.30%), and Anambra (0.37%) recorded the smallest rises.
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