By Muhammad Mamman
Nigeria’s inflation rate has dropped to 21.88% in July 2025, a notable decline from June’s 22.22%, marking the fourth consecutive month of disinflation this year, according to the National Bureau of Statistics (NBS). The latest Consumer Price Index (CPI) report, released Friday, signals a cooling economic pressure for Africa’s most populous nation, offering a glimmer of relief for consumers battered by rising costs.
The NBS highlighted a year-on-year plunge, with July 2025’s inflation rate a significant 11.52% lower than the 33.40% recorded in July 2024. “This sustained downward trend reflects a stabilizing economy,” the report noted, pointing to a 0.34% decrease from June’s headline figure.
However, the NBS cautioned that month-to-month price growth accelerated slightly, with July’s rate climbing to 1.99%—up 0.31% from June’s 1.68%. “The pace of price increases in July outstripped the previous month, driven by key sectors,” the agency explained.
Food and non-alcoholic beverages, alongside restaurants, accommodation services, and transport, were the primary drivers of the CPI in July, underscoring persistent pressures in essential goods and services.
