Nigeria’s Inflation Rate Slows to 21.88% in July 2025

By Aduragbemi Omiyale

The National Bureau of Statistics (NBS) on Friday disclosed that inflation rate in Nigeria moderated by 0.34 per cent to 21.88 per cent in July 2025 from the 22.22 per cent recorded in June 2025, the fourth straight month the rate was cooling.

In its monthly report, the agency said on a year-on-year basis, the rate slowed by 11.52 per cent from the 33.40 per cent achieved in July 2024.

The NBS noted that the headline inflation rate for the month under review was 1.99 per cent, higher than the 1.68 per cent in the preceding month by 0.31 per cent.

It also disclosed that the food inflation rate in July 2025 stood at 22.74 per cent on a year-on-year basis compared with the 39.53 per cent reported in the same period of last year.

It is not certain if the Central Bank of Nigeria would be moved to consider cutting interest rate when it means next month in Abuja, though it would expect another inflation figures before then.

At the last Monetary Policy Meeting (MPC) meeting last month, the bank held the rates, saying it was to further monitor the impact of the current status.

Inflation rate does not mean the exact increase or decrease in the prices of goods and services, it only tells the rate of the reduction or rise within a period.

Based on the latest numbers, the rate of the decline in the prices of goods and services was by 21.88 per cent when compared with the preceding month when it was by 22.22 per cent.