The National Bureau of Statistics (NBS) has announced that Nigeria’s headline inflation rate declined to 21.88% in July 2025 from 22.22% in June.

Statistician-General of the Federation, Prince Adeyemi Adeniran, attributed the drop to lower costs of food, transportation and other key variables.

According to him, food and non-alcoholic beverages contributed the most to headline inflation at 8.75%, followed by restaurants and accommodation services at 2.83%, and transport at 2.33%. The least contributors were recreation, sport and culture (0.07%), alcoholic beverages, tobacco and narcotics (0.08%), and insurance and financial services (0.10%).

Adeniran explained that the latest report was based on a new Consumer Price Index (CPI) base year of 2024, following a recent rebasing exercise. The CPI rose to 125.9 points in July, reflecting a 2.5-point increase from June.

On a month-on-month basis, the headline inflation rate stood at 1.99%, 0.31 percentage points higher than the 1.68% recorded in June. Year-on-year food inflation was 22.74%, while on a monthly basis it eased slightly to 3.12% from 3.25% in June.

The NBS chief attributed the fall in food inflation to slower increases in the prices of vegetable oil, beans, local rice, maize flour, guinea corn, wheat flour, and millet.

Core inflation, which excludes volatile agricultural produce and energy prices, was 21.33% year-on-year in July, while the month-on-month rate fell sharply to 0.97% from 2.46% in June.

The bureau also introduced new sub-indices, showing notable monthly increases in farm produce (3.96%), energy (2.71%) and goods (2.72%), while services declined to 0.47%.

Urban inflation was 22.01% year-on-year and 1.86% month-on-month, while rural inflation stood at 21.08% year-on-year and 2.30% month-on-month.

Borno recorded the highest year-on-year headline inflation at 34.52%, followed by Niger (27.18%) and Benue (25.73%). Yobe (11.43%), Zamfara (12.75%) and Katsina (15.64%) posted the lowest.

For food inflation, Borno also topped the chart at 55.56% year-on-year, with Osun (29.10%) and Ebonyi (29.06%) next. Katsina (6.61%), Adamawa (9.90%) and Zamfara (14.72%) recorded the slowest increases.

The NBS said the portal for accessing detailed inflation figures remains open to the public for verification and analysis.