Nigeria’s inflation rate drops to 20.12%

The National Bureau of Statistics (NBS) has announced that Nigeria’s inflation rate dropped to 20.12 per cent in August 2025.

The NBS announced this via its Consumer Price Index (CPI) report released on Monday, September 15, 2025.

According to the NBS, Nigeria’s inflation rate declined from 21.88 per cent recorded in July 2025.

The bureau noted that the August 2025 headline inflation rate showed a decrease of 1.76 per cent compared to the July 2025 headline inflation rate.

It stated: “On a year-on-year basis, the Headline inflation rate was 12.03% lower than the rate recorded in August 2024 (32.15%).

“This shows that the Headline inflation rate (year-on-year basis) decreased in August 2025 compared to the same month in the preceding year.

“On a month-on-month basis, the Headline inflation rate in August 2025 was 0.74%, which was 1.25% lower than the rate recorded in July 2025 (1.99%).

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“This means that in August 2025, the rate of increase in the average price level was lower than the rate of increase in the average price level in July 2025.”

The NBS disclosed that the food inflation rate in August was 21.87 per cent, decreasing from 22.74 per cent recorded in July.

The NBS said this was 15.65 per cent lower compared to the 37.52 per cent rate recorded in August 2024.

The bureau added: “The significant decline in the annual food inflation figure is technically due to the change in the base year.

“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 decrease can be attributed to the rate of decline in the average prices of Rice (Imported), Rice (local), Guinea corn flour, Maize flour sold loose, Guinea Corn (Sorghum), Millet, Semolina, Soya milk etc.”

The Star