Nigeria’s headline inflation rate declined to 21.88% in July 2025, relative to the 22.22% rate recorded in the month of June 2025.
The National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) report released on Friday, disclosed that the July rate represented a decline of 0.34% from June 2025.
The decrease in the headline index for July 2025 was attributed to the rise in the average price of some items in the basket of goods and services at the divisional level.
NBS listed the three major contributors to the headline inflation to include, Food and non-alcoholic Beverages: 8.75%, Restaurants & Accommodation Services: 2.83%, and Transport: 2.33%; while the least contributors were Recreation, Sport, and Culture: 0.07%, Alcoholic Beverages, Tobacco, and Narcotics: 0.08%, and Insurance and Financial Services: 0.10.
On a month-on-month basis, the Bureau said the headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025 (1.68%).
It said the food inflation rate in July 2025 was 22.74% on a year-on-year basis, while on a month-on-month basis, the food inflation rate in July 2025 was 3.12%, which fell by 0.14% compared to June 2025 (3.25%).
The decrease was attributed to the rate of decrease in average prices of items such as Vegetable Oil, Bean (White), Rice Local, Maize Flour, Guinea Corn (Sorghum), Wheat Flour, Millet Whole grain, etc.
The Bureau said the core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 21.33% in July 2025 on a year-on-year basis.
On a month-on-month basis, the core inflation rate was 0.97% in July 2025, down by 1.49 percentage points from 2.46 recorded in June 2025.
NBS said the inflation rate of the sub-indices for July 2025 shows that Farm Produce (3.96%), Energy (2.71%) and Goods (2.72%) increased significantly, and their index were 128.5, 121.2 and 124.6 basis points; respectively. Conversely, Services recorded decline during the month to 0.47%.
URBAN INFLATION RATES
On a year-on-year basis, the urban inflation rate in July 2025 was 22.01%. On a month-on-month basis, the urban inflation rate was 1.86% in July 2025, fell by 0.25% compared to June 2025 (2.11%).
RURAL INFLATION RATES
The rural inflation rate in July 2025 was 21.08% on a year-on-year basis. On a month-on-month basis, the rural inflation rate in July 2025 was 2.30%, increased by 1.67% compared to June 2025 (0.63%)
ALL ITEMS INFLATION
The all-item index for July 2025, All Items inflation rate on a Year-on-Year basis was highest in Borno (34.52%), Niger (27.18%), and Benue (25.73%), while Yobe (11.43%), Zamfara (12.75%), and Katsina (15.64%) recorded the lowest rise in Headline inflation on a Year-on-Year basis.
On a Month-on-Month basis, however, July 2025 recorded the highest increases is in Borno (6.11%), Zamfara (5.72%), Kano (4.31%), while Bauchi (0.26%), Katsina (0.30%), and Anambra (0.37%) recorded the lowest rise in Month-on-Month inflation.
FOOD INFLATION IN STATES
State-level analyses of the food index in July 2025, Food inflation on a Year-on-Year basis was highest in Borno (55.56%), Osun (29.10%), Ebonyi (29.06%), while Katsina (6.61%), Adamawa (9.90%), and Zamfara (14.72%) recorded the slowest rise in Food inflation on a Year-on-Year basis.
On a Month-on-Month basis, however, July 2025 Food inflation was highest in Borno (10.89%), Kano (10.86%), and Sokoto (7.43%), while Zamfara (-6.00%), Bauchi (-2.18%) and Abia (-1.06%), recorded decline in Food inflation on Month-on-Month basis.
