Inflation in Nigeria Eases to 21.88% in July 2025



Abuja, Nigeria – Nigeria’s headline inflation rate slowed to 21.88% in **July 2025**, down from **22.22%** in **June**, marking the **fourth consecutive month of decline**, according to the National Bureau of Statistics (NBS). 0

Key Highlights

  • Headline inflation: 21.88% (July) vs. 22.22% (June) 1
  • Food inflation: rose slightly to 22.74% in July from 21.97% in June 2
  • CBN policy rate: held at **27.50%**, reinforcing its commitment to sustaining disinflation 3

Why Inflation Is Easing

The downward trend reflects several factors — statistical base effects from the Consumer Price Index rebasing, tighter monetary policy, and improved macroeconomic conditions including FX stability and harvest-led relief in food supply. 4

Why It Still Matters

Despite the welcome slowdown, food prices remain elevated and continue to exert pressure on household budgets. Sustaining this disinflation path will require persistent policy discipline and supply-side reforms. 5

Related Sources

Bottom line: Inflation is gradually easing but remains high. For lasting relief, structural reforms and a steady policy environment will be critical.

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