Nigeria’s headline inflation charge eased for the fifth consecutive month, dropping to twenty.12% in August 2025 from 21.88% recorded in July 2025.
That is based on the newest figures launched on Monday by the Nationwide Bureau of Statistics (NBS).
On a month-on-month foundation, the headline inflation stood at 0.74% in August, reflecting a moderation in comparison with earlier months.
This implies, based on the NBS, that in August 2025, the speed of improve within the common worth stage was decrease than the speed of improve within the common worth stage in July 2025.
“This reveals that the Headline inflation charge (year-on-year foundation) decreased in August 2025 in comparison with the identical month within the previous yr (i.e., August 2024), although with a unique base yr, November 2009 = 100,” NBS acknowledged.
The NBS acknowledged that the share change within the common CPI for the twelve months ending August 2025 over the common for the earlier twelve-month interval was 24.66%, exhibiting a 6.6% lower in comparison with 31.26% recorded in August 2024.
City vs Rural inflation tendencies
In keeping with the NBS report, in August 2025, the city inflation charge was 19.75%, which was 14.83% factors decrease in comparison with the 34.58% recorded in August 2024. On a month-on-month foundation, the City inflation charge was 0.49% in August 2025, down by 1.37% in comparison with July 2025, which was at 1.86 %.
The corresponding twelve-month common for the city inflation charge was 25.81% in August 2025. This was 7.63% factors decrease in comparison with the 33.44% reported in August 2024.
However, the agricultural inflation charge in August 2025 was 20.28% on a year-on-year foundation.
In keeping with the NBS, this was 9.67% factors decrease in comparison with the 29.95% recorded in August 2024. On a month-on-month foundation, the Rural inflation charge in August 2025 was 1.38%, down by 0.92% in comparison with July 2025, which was at 2.30%.
The corresponding twelve-month common for the Rural inflation charge in August 2025 was 23.07%. This was 6.25% factors decrease in comparison with the 29.32% recorded in August 2024.
Meals inflation
The meals inflation charge in August 2025 was 21.87% on a year-on-year foundation. This was 15.65% factors decrease in comparison with the speed recorded in August 2024, which was at 37.52%.
The NBS famous that the numerous decline within the annual meals inflation determine is technically as a result of change within the base yr.
“On a month-on-month foundation, the Meals inflation charge in August 2025 was 1.65%, down by 1.47% in comparison with July 2025 (3.12%),” NBS acknowledged.
The lower, based on NBS, will be attributed to the speed of decline within the common costs of Rice (Imported), Rice (native), Guinea corn flour, Maize flour offered free, Guinea Corn (Sorghum), Millet, Semolina, Soya milk, and so forth.
The common annual charge of Meals inflation for the twelve months ending August 2025 over the earlier twelve-month common was 25.75%, which was 11.24% factors decrease in contrast with the common annual charge of change recorded in August 2024, which was at 36.99%.
Core inflation
The NBS report famous that core inflation, which excludes the costs of unstable agricultural produces and power, stood at 20.33% in August 2025 on a year-on-year foundation; a decline of seven.25% when in comparison with the 27.58% recorded in August 2024.
On a month-on-month foundation, the Core Inflation charge was 1.43% in August 2025, up by 0.46% in comparison with July 2025, which was at 0.97%.
The common twelve-month annual inflation charge was 23.04% for the twelve months ending August 2025, which was 2.14% factors decrease than the 25.18% recorded in August 2024.
What you need to know
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, projected a future decline in rates of interest, citing easing inflation and improved capital allocation effectivity as key drivers.
Talking on the European Enterprise Chamber (Eurocham Nigeria) C-Degree Discussion board in Lagos, Cardoso emphasised that the present excessive lending charges, ranging between 32% and 36% on business loans, might see downward strain as macroeconomic circumstances stabilize.
At its 301st Financial Coverage Committee (MPC) assembly held in July, CBN voted unanimously to keep up the MPR at 27.5%.
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