Nigeria’s inflation declines to 20.12% in August
Nigeria’s inflation rate dropped for the fifth consecutive month to 20.12 per cent in August 2025, down from 21.88 per cent in July, according to the National Bureau of Statistics (NBS).
The bureau, in its consumer price index (CPI) report released on Monday, said the headline inflation rate decreased by 1.76 per cent compared to July.
“On a year-on-year basis, the Headline inflation rate was 12.03% lower than the rate recorded in August 2024 (32.15%),” NBS said. “This shows that the Headline inflation rate (year-on-year basis) decreased in August 2025 compared to the same month in the preceding year.”
Every month, inflation slowed to 0.74 per cent in August from 1.99 per cent in July. “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 bureau explained.
Food inflation, a key driver of headline inflation, also eased to 21.87 per cent in August from 22.74 per cent in July. Compared to August 2024, the rate was 15.65 per cent lower. “The significant decline in the annual food inflation figure is technically due to the change in the base year,” NBS noted.
It added that the slowdown was linked 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.”Despite the national decline, Ekiti (28.17%), Kano (27.27%), and Oyo (26.58%) posted the highest year-on-year food inflation, while Zamfara (11.82%), Adamawa (14.18%), and Enugu (14.20%) recorded the slowest.
