The nation’s headline inflation rate declined for the fifth consecutive month in August, 2025, according to the National Bureau of Statistics (NBS).
NBS, in a Consumer Price Index (CPI) Report released on Monday, revealed that the Headline inflation rate eased to 20.12% in August 2025, relative to the July 2025 headline inflation rate of 21.88%.
The decrease was 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.
Looking at the movement, the August 2025 Headline inflation rate showed a decrease of 1.76% compared to the July 2025 Headline inflation rate.
On a year-on-year basis, the Bureau said 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 (i.e., August 2024), though with a different base year, November 2009 = 100.
NBS also disclosed that 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%).
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 percentage change in the average CPI for the twelve months ending August 2025 over the average for the previous twelve-month period was 24.66%, showing a 6.6% decrease compared to 31.26% recorded in August 2024.
FOOD INFLATION
The Food inflation rate in August 2025 was 21.87% on a year-on-year basis. This was 15.65% points lower compared to the rate recorded in August 2024 (37.52%). 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 average annual rate of Food inflation for the twelve months ending August 2025 over the previous twelve-month average was 25.75%, which was 11.24% points lower compared with the average annual rate of change recorded in August 2024 (36.99%).
URBAN INFLATION
On a year-on-year basis, in August 2025, the Urban inflation rate was 19.75%, which was 14.83% points lower compared to the 34.58% recorded in August 2024. On a month-on-month basis, the Urban inflation rate was 0.49% in August 2025, down by 1.37% compared to July 2025 (1.86 %).
The corresponding twelve-month average for the Urban inflation rate was 25.81% in August 2025. This was 7.63% points lower compared to the 33.44% reported in August 2024.
RURAL INFLATION
The Rural inflation rate in August 2025 was 20.28% on a year-on-year basis. This was 9.67% points lower compared to the 29.95% recorded in August 2024. On a month-on-month basis, the Rural inflation rate in August 2025 was 1.38%, down by 0.92% compared to July 2025 (2.30%).
The corresponding twelve-month average for the Rural inflation rate in August 2025 was 23.07%. This was 6.25% points lower compared to the 29.32% recorded in August 2024.
