Nigeria’s inflation rate fell for the fifth straight month, easing to 20.12 per cent in August 2025 from 21.88 per cent in July.
This was disclosed on Monday by the National Bureau of Statistics.
On a month-on-month basis, inflation stood at 0.74% in August, marking a slowdown compared to prior months.
“This shows that the Headline inflation rate (year-on-year basis) decreased in August 2025 compared to the same month in the preceding year (i.e., August 2024), though with a different base year, November 2009 = 100,” the NBS stated.
The average Consumer Price Index for the twelve months ending August 2025 rose by 24.66%, representing a 6.6 percentage point decline from August 2024. Urban inflation stood at 19.75% in August 2025, while rural inflation was at 20.28%. Food inflation dropped to 21.87% year-on-year in August 2025.
“On a month-on-month basis, the Food inflation rate in August 2025 was 1.65%, down by 1.47% compared to July 2025 (3.12%),” the NBS stated.
CBN Governor Olayemi Cardoso expects interest rates to decline in the future due to easing inflation and more efficient capital allocation.
