ABUJA — Nigeria’s inflation rate eased for the fifth month in a row, dropping to 21.12 percent in August 2025 from 21.88 percent in July, driven largely by a slowdown in food prices, according to the National Bureau of Statistics (NBS).
The data, released Monday in the August Consumer Price Index (CPI) report, showed that on a month-on-month basis, inflation fell by 0.74 percent. Food inflation also moderated, standing at 1.65 percent month-on-month.
Year-on-year, inflation showed a significant retreat, tumbling from 32.15 percent in August 2024 to 21.12 percent in the same month this year.
“In August 2025, the headline inflation rate eased to 21.12 percent relative to the July 2025 headline inflation rate of 21.88 percent,” the NBS confirmed in a post on X.
The sustained decline could shape the Central Bank of Nigeria’s (CBN) next Monetary Policy Committee (MPC) meeting, with analysts projecting that the apex bank may choose to retain its benchmark interest rate of 27.50 percent or consider a cut to stimulate growth.
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