Nigeria’s Inflation Rate Declines for Fifth Consecutive Month

Nigeria’s inflation rate dropped for the fifth straight month, easing to 21.12 percent in August from 21.88 percent in July 2025, driven mainly by a decline in food prices.

The latest Consumer Price Index released by the National Bureau of Statistics on Monday confirmed the steady slowdown, showing a 0.74 percent decline on a month-on-month basis. Food inflation also moderated, recording 1.65 percent growth compared to the previous month.

A year earlier, in August 2024, inflation stood at 32.15 percent, reflecting a significant reduction within 12 months. The NBS further noted that the headline inflation rate for August 2025 eased to 21.12 percent, compared with 21.88 percent in July.

The development raises expectations around the Central Bank of Nigeria’s Monetary Policy Committee, which may decide at its next meeting whether to maintain the interest rate at 27.50 percent or implement a cut to support economic growth.

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