Nigeria’s Inflation rate Eased to 21.88% In July 2025
Nigeria’s inflation rate for July 2025 eased to 21.88% compared to the June 2025 rate of 22.22%, representing a decline of 0.34%, latest report from the National Bureau of Statistics released Friday has said.
The statement signed by the Statistician-General of the Federation, Prince Adeyemi Adeniran, showed that the report is centred on a new CPI base year of 2024 and a weight reference period of 2023 following the completion of the recent rebasing exercise.
The latest report indicates that “At the divisional level, the three major contributors to the headline inflation were Food and non-alcoholic Beverages: 8.75%, Restaurants & Accommodation Services: 2.83%, and Transport: 2.33%; while the least contributors were Recreation, Sport, and Culture: 0.07%, Alcoholic Beverages, Tobacco, and Narcotics: 0.08%, and Insurance and Financial Services: 0.10.
“On a month-on-month basis, the headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025 (1.68%).
“The food inflation rate in July 2025 was 22.74% on a year-on-year basis. On a month-on-month basis, the food inflation rate in July 2025 was 3.12%, which fell by 0.14% compared to June 2025 (3.25%).
“The decrease can be attributed to the rate of decrease in average prices of items such as Vegetable Oil, Bean (White), Rice Local, Maize Flour, Guinea Corn (Sorghum), Wheat Flour, Millet Whole grain, etc.
“Core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 21.33% in July 2025 on a year-on-year basis. On a month-on-month basis, the core inflation rate was 0.97% in July 2025, down by 1.49 percentage points from 2.46 recorded in June 2025.
“The inflation rate of the sub-indices for July 2025 shows that Farm Produce (3.96%), Energy (2.71%) and Goods (2.72%) increased significantly, and their index were 128.5, 121.2 and 124.6 basis points; respectively. Conversely, Services recorded decline during the month to 0.47%.
“On a year-on-year basis, the urban inflation rate in July 2025 was 22.01%. On a month-on-month basis, the urban inflation rate was 1.86% in July 2025, fell by 0.25% compared to June 2025 (2.11%).
“The rural inflation rate in July 2025 was 21.08% on a year-on-year basis. On a month-on-month basis, the rural inflation rate in July 2025 was 2.30%, increased by 1.67% compared to June 2025 (0.63%)
“The all-item index for July 2025, All Items inflation rate on a Year-on-Year basis was highest in Borno (34.52%), Niger (27.18%), and Benue (25.73%), while Yobe (11.43%), Zamfara (12.75%), and Katsina (15.64%) recorded the lowest rise in Headline inflation on a Year-on-Year basis.
“On a Month-on-Month basis, however, July 2025 recorded the highest increases is in Borno (6.11%), Zamfara (5.72%), Kano (4.31%), while Bauchi (0.26%), Katsina (0.30%), and Anambra (0.37%) recorded the lowest rise in Month-on-Month inflation.
“State-level analyses of the food index in July 2025, Food inflation on a Year-on-Year basis was highest in Borno (55.56%), Osun (29.10%), Ebonyi (29.06%), while Katsina (6.61%), Adamawa (9.90%), and Zamfara (14.72%) recorded the slowest rise in Food inflation on a Year-on-Year basis.
“On a Month-on-Month basis, however, July 2025 Food inflation was highest in Borno (10.89%), Kano (10.86%), and Sokoto (7.43%), while Zamfara (-6.00%), Bauchi (-2.18%) and Abia (-1.06%), recorded decline in Food inflation on Month-on-Month basis”.
