Nigeria’s Inflation Rate Drops To 20.12% In August—NBS

Nigeria’s headline inflation decelerated to 20.12 per cent in August 2025, down from 21.88 per cent recorded in July, according to the latest Consumer Price Index report released by the National Bureau of Statistics.

The NBS said on a year-on-year basis, headline inflation stood at 20.12 per cent, 12.03 percentage points lower than the 32.15 per cent recorded in August 2024. The NBS noted that this decline was influenced by the adoption of a new base year.

It added that month-on-month inflation also moderated to 0.74 per cent in August 2025, indicating a drop of 1.25 percentage points from 1.99 per cent recorded in July.

Food and non-alcoholic beverages remained the largest contributors to the headline index at 8.05 per cent, followed by restaurants and accommodation services (2.60 per cent), transport (2.15 per cent), and housing, water, electricity, gas, and other fuels (1.69 per cent).

Urban inflation was recorded at 19.75 per cent year-on-year, compared to 34.58 per cent in August 2024, while rural inflation stood at 20.28 per cent, down from 29.95 per cent a year earlier.

Food inflation eased significantly to 21.87 per cent in August 2025, from 37.52 per cent in August 2024. On a monthly basis, food inflation fell to 1.65 per cent from 3.12 per cent in July, driven by lower prices of rice, guinea corn, maize flour, millet, semolina, and soya milk.

Core inflation, which excludes volatile agricultural products and energy, was 20.33 per cent year-on-year in August 2025, compared to 27.58 per cent in August 2024. On a monthly basis, however, core inflation rose to 1.43 per cent from 0.97 per cent in July.

At the state level, Ekiti (28.17 per cent), Kano (27.27 per cent), and Oyo (26.58 per cent) recorded the highest year-on-year inflation, while Zamfara (11.82 per cent), Anambra (14.16 per cent), and Enugu (14.20 per cent) posted the lowest.

For food inflation, Borno (36.67 per cent), Kano (30.44 per cent), and Akwa Ibom (29.85 per cent) had the highest annual increases, while Zamfara (3.30 per cent), Yobe (3.60 per cent), and Sokoto (6.34 per cent) recorded the lowest.

Nigeria’s Inflation Rate Drops To 20.12% In August—NBS is first published on The Whistler Newspaper