Nigeria’s headline inflation rate fell slightly to 21.88% in July 2025, down 0.34 percentage points from 22.22% recorded in June, the National Bureau of Statistics (NBS) has reported.
According to the data, the biggest contributors to the July inflation rate were food and non-alcoholic beverages (8.75%), restaurants and accommodation services (2.83%), and transport (2.33%). The smallest 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, headline inflation rose to 1.99% in July, 0.31 percentage points higher than the 1.68% recorded in June.
Food inflation stood at 22.74% year-on-year, while on a month-on-month basis it was 3.12%, a 0.14-point drop from 3.25% in June. The NBS attributed the easing to lower average prices of items such as vegetable oil, white 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. Month-on-month, core inflation slowed to 0.97% from 2.46% in June — a 1.49-point drop.
Sub-index data showed significant month-on-month increases in farm produce (3.96%), energy (2.71%), and goods (2.72%), with index points at 128.5, 121.2, and 124.6 respectively. Services, however, declined to 0.47% during the month.
Urban vs Rural Inflation
Year-on-year, urban inflation was 22.01% in July, with a month-on-month reading of 1.86% — down from 2.11% in June. Rural inflation came in at 21.08% year-on-year, but surged month-on-month to 2.30% from 0.63% in June.
State-by-State Breakdown
Borno (55.56%), Osun (29.10%), and Ebonyi (29.06%) posted the highest year-on-year food inflation rates, while Katsina (6.61%), Adamawa (9.90%), and Zamfara (14.72%) recorded the slowest rises.
Month-on-month, 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%) saw declines.
For all-items inflation, Borno (34.52%), Niger (27.18%), and Benue (25.73%) recorded the steepest year-on-year increases, while Yobe (11.43%), Zamfara (12.75%), and Katsina (15.64%) saw the smallest rises.
On a monthly basis, Borno (6.11%), Zamfara (5.72%), and Kano (4.31%) posted the highest increases, while Bauchi (0.26%), Katsina (0.30%), and Anambra (0.37%) recorded the smallest.
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