JUST IN: Nigeria’s inflation rate drops to 20.12% — NBS

Nigeria’s headline inflation rate eased to 20.12 percent in August 2025, relative to 21.88 percent recorded in the previous month of July 2025.

The National Bureau of Statistics (NBS) said in its latest data released on Monday that, looking at the movement, the August 2025 Headline inflation rate showed a decrease of 1.76 percent compared to the July 2025 Headline inflation rate.

According to the NBS, on a year-on-year basis, the headline inflation rate was 12.03 percent lower than the 32.15 percent recorded in August 2024, showing that the Headline inflation rate (year-on-year basis) decreased in August 2025 compared to the same month in the preceding year (i.e., August 2024), though with a different base year, November 2009 = 100.

On a month-on-month basis, the Headline inflation rate in August 2025 was 0.74 percent, which was 1.25 percent
lower than the 1.99 percent recorded in July 2025.

This means that in August 2025, the rate of increase in the average price level was lower than the rate of increase in the average price level in July 2025.

The NBS said the Food inflation rate in August 2025 was 21.87 percent on a year-on-year basis, representing 15.65 percentage points lower compared to the 37.52 percent recorded in August 2024.

The NBS attributed the significant decline in the annual food inflation figure technically to the change in the base year.

On a month-on-month basis, the Food inflation rate in August 2025 was 1.65 percent, down by 1.47 percent compared to 3.12 percent in July 2025.

The decrease, according to the NBS can be attributed to the rate of decline in the average prices of Rice (Imported), Rice (local), Guinea corn flour, Maize flour sold loose, Guinea Corn (Sorghum), Millet, Semolina, Soya milk etc.

The average annual rate of Food inflation for the twelve months ending August 2025 over the previous twelve-month average was 25.75 percent, which was 11.24 percentage points lower compared with the average annual rate of 36.99 percentage change recorded in August 2024.

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