Nigeria’s inflation rate fell to 20.12% in August 2025, a 1.76 percentage point decrease from 21.88% in July 2025, according to the National Bureau of Statistics (NBS). The data, released on Monday, shows a year-on-year decline of 12.03% compared to the 32.15% recorded in August 2024, using a base year of November 2009 = 100.
On a month-on-month basis, the headline inflation rate dropped to 0.74% in August 2025, down 1.25% from 1.99% in July 2025, indicating a slower rise in average price levels.
Food inflation also eased significantly, reaching 21.87% year-on-year in August 2025, a 15.65 percentage point drop from 37.52% in August 2024. The NBS attributed this decline to a change in the base year. Month-on-month, food inflation was 1.65% in August 2025, down 1.47% from 3.12% in July 2025, driven by falling prices of imported and local rice, guinea corn flour, maize flour, millet, semolina, soya milk, and other staples.
The average annual food inflation rate for the 12 months ending August 2025 was 25.75%, a notable 11.24 percentage point decrease from 36.99% in August 2024.
