Nigeria’s inflation rate dropped to 20.12% in August 2025 from 21.88% in July, with food inflation slowing to 21.87% year-on-year, according to NBS data
Nigeria’s Inflation Drops to 20.12% in August, Lowest in Over a Year – NBS
Nigeria’s annual inflation rate eased to 20.12% in August 2025, down from 21.88% in July, according to the latest data from the National Bureau of Statistics (NBS).
The agency said the August headline inflation rate fell by 1.76 percentage points compared to July, signaling a slower pace of price increases across goods and services.
On a year-on-year basis, inflation was 12.03 percentage points lower than August 2024, when the rate stood at 32.15%.
The NBS noted that the month-on-month inflation rate stood at 0.74% in August, significantly lower than 1.99% recorded in July, meaning prices rose at a slower pace compared to the previous month.
Food prices, which make up the largest share of household spending, rose by 21.87% year-on-year, down sharply from 37.52% in August 2024. The bureau attributed this decline partly to a change in the inflation base year.
Items that contributed most to the inflation rate include:
- Food & non-alcoholic beverages (8.05%)
- Restaurants and accommodation (2.60%)
- Transport (2.15%)
- Housing, water, electricity, gas & other fuel (1.69%)
- Education (1.25%)
The Consumer Price Index (CPI) rose to 126.8 in August, from 125.9 in July. On an annual basis, the average CPI for the 12 months ending August 2025 stood at 24.66%, down from 31.26% a year earlier.
Across states, Borno (36.67%), Kano (30.44%), and Akwa Ibom (29.85%) recorded the highest food inflation rates year-on-year, while Zamfara (3.30%), Yobe (3.60%), and Sokoto (6.34%) recorded the slowest.
On a month-to-month basis, Kaduna (9.37%), Katsina (9.05%), and Akwa Ibom (7.87%) saw the sharpest food price increases, while Bayelsa (-9.52%), Sokoto (-8.92%), and Borno (-8.74%) recorded declines. Read More
