The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate fell to 21.88 per cent in July 2025, down from 22.22 per cent in June.

The figure, contained in the bureau’s Consumer Price Index (CPI) report released on Friday, represented the fourth consecutive disinflation recorded this year.

According to the NBS, the July headline inflation movement showed a “decrease of 0.34% compared to the June 2025 headline inflation rate.”

“On a year-on-year basis, the headline inflation rate was 11.52% lower than the rate recorded in July 2024 (33.40%),” the report said.

However, the statistics agency noted that on a month-to-month basis, price growth was faster in July than in June.

“On a month-on-month basis, the Headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025 (1.68%),” the NBS stated.

“This means that in July 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in June 2025,” it added.

The NBS said food and non-alcoholic beverages, restaurants and accommodation services, and transport were the top contributors to the CPI in the review month.