Food price cut: Nigeria’s inflation drops to 21.88% in July for fourth consecutive time

Nigeria’s headline inflation dropped to 21.88 percent in July 2025, down from 22.22 percent in June.
This means that the country’s inflation has recorded four straight declines since April 2025.

This is according to the National Bureau of Statistics, July’s consumer price index, and inflation data released on Friday.

It showed that on a month-on-month basis, the headline inflation rate in July 2025 was 1.99%, which was 0.31 percent higher than the rate recorded in June 2025 (1.68 percent).

Also, the food inflation rate in July 2025 eased to 22.74 percent, down from 21.97 percent in June.

NBS data showed that on a month-on-month basis, the food inflation rate in July 2025 was 3.12 percent, down by 0.14% compared to June 2025 (3.25 percent).

Recall that in July, the Central Bank of Nigeria retained the interest rate at 27.50 percent on the back of declining.

The latest inflation drop would hopefully impact the decision of CBN Monetary Policy Committee members in their next meeting.

Food price cut: Nigeria’s inflation drops to 21.88% in July for fourth consecutive time