Nigeria’s headline inflation slowed for the fifth straight month in August 2025, offering some relief to households burdened by rising living costs.
According to data released by the National Bureau of Statistics (NBS) on Monday, inflation fell to 20.12% in August, down from 21.88% in July and significantly lower than the 32.15% recorded in August 2024. This represents a month-on-month decline of 1.76 percentage points.
The Consumer Price Index (CPI) rose marginally to 126.8 points in August, compared to 125.9 in July, reflecting a slower pace of price increases. Month-on-month inflation moderated to 0.74%, from 1.99% in July.
Urban inflation dropped to 19.75% year-on-year, while rural inflation was slightly higher at 20.28%, highlighting persistent pressures in rural areas where supply chain challenges continue to drive prices.
Food inflation, the main driver of Nigeria’s inflation, also eased, declining to 21.87% year-on-year in August, from 37.52% a year earlier. Month-on-month food inflation slowed to 1.65%, from 3.12% in July, with falling prices of staples like rice, maize flour, guinea corn, millet, semolina, and soya milk contributing to the moderation.
Core inflation, which excludes food and energy, stood at 20.33% year-on-year, down from 27.58% in August 2024, but edged higher on a monthly basis to 1.43%, up from 0.97% in July, reflecting continued pressures in housing, utilities, transport, education, and healthcare.
Across the states, inflation trends varied: Ekiti (28.17%), Kano (27.27%), and Oyo (26.58%) recorded the highest headline inflation, while Zamfara (11.82%), Anambra (14.16%), and Enugu (14.20%) posted the lowest. Food inflation was highest in Borno (36.67%) and lowest in Zamfara (3.30%).
The figures suggest that while headline inflation is easing, non-food inflationary pressures remain a concern for policymakers.
