Nigeria’s inflation rate eased for the fifth consecutive month, dropping to 21.12% in August from 21.88% in July 2025, according to new data from the National Bureau of Statistics (NBS).
The decline was driven largely by easing food prices, with the food inflation index slowing to 1.65% month-on-month. Overall, headline inflation fell 0.74% on a monthly basis.
The latest figures mark a dramatic improvement from August 2024, when inflation soared at 32.15%.
“In August 2025, the headline inflation rate eased to 21.12% relative to the July 2025 headline inflation rate of 21.88%,” the NBS confirmed in a post on X.
The sustained decline could influence the Central Bank of Nigeria’s next Monetary Policy Committee (MPC) decision, with analysts watching closely to see if the current benchmark interest rate of 27.50% will be maintained or trimmed.
