Food prices remain high despite fourth inflation decline – CPPE

The Centre for the Promotion of Private Enterprise, CPPE, has said food price rises persist despite the fourth consecutive decline in headline inflation in July 2025.

The Director of CPPE, Muda Yusuf, disclosed this in a statement on Sunday in reaction to Nigeria’s July inflation figures.

DAILY POST reports that Nigeria’s headline inflation fell to 21.88 per cent in July from 22.22 per cent in June, according to the National Bureau of Statistics Consumer Price Index.

Commenting, CPPE noted that the fourth decline in the country’s inflation reflects a gradually stabilising macroeconomic environment, supported by exchange rate stability and improved investor confidence.

The economic think tank, however, stressed that despite these gains, “pressures persist” on the Nigerian economy.

CPPE observed that a coordinated mix of monetary, fiscal, and structural interventions would be required to consolidate recent progress and steer the economy towards sustained stability.

It added that the Central Bank of Nigeria’s Monetary Policy Committee should deploy more creative measures to manage liquidity in the economy beyond conventional tightening tools such as interest rates (27.50 per cent) and cash reserve ratios.

“The July 2025 inflation report provides a basis for cautious optimism. While progress has been made in moderating headline and core inflation, the persistence of food and month-on-month price increases highlights unresolved structural weaknesses. A coordinated mix of monetary, fiscal, and structural interventions will be required to consolidate recent gains and steer the economy towards sustained stability,” the statement read.

Food prices remain high despite fourth inflation decline – CPPE