Nigeria’s inflation eases to 20.12% in August
Orisemeke Benjamin
In August 2025, Nigeria’s inflation rate eased to 20.12% relative to the July 2025 headline inflation rate of 21.88%, the National Bureau of Statistics (NBS) has stated.
In its Consumer Price Index report for August made available journalists, The NBS stated that the August rate showed a decrease of 1.76% compared to the July 2025 Headline inflation rate.
On a year-on-year basis, the Headline inflation rate was 12.03% lower than the rate recorded in August 2024 (32.15%). This shows that the Headline inflation rate (year-on-year basis) decreased in August 2025 compared to the same month in the preceding year (i.e., August 2024), though with a different base year, November 2009 = 100.
On a month-on-month basis, the Headline inflation rate in August 2025 was 0.74%, which was 1.25% lower than the rate recorded in July 2025 (1.99%). This means that in August 2025, the rate of increase in the average price level was lower than the rate of increase in the average price level in July 2025.
Urban inflation
On a year-on-year basis, in August 2025, the Urban inflation rate was 19.75%, which was 14.83% points lower compared to the 34.58% recorded in August 2024. On a month-on-month basis, the Urban inflation rate was 0.49% in August 2025, down by 1.37% compared to July 2025 (1.86 %). The corresponding twelve-month average for the Urban inflation rate was 25.81% in August 2025. This was 7.63% points lower compared to the 33.44% reported in August 2024.
Rural inflation
The Rural inflation rate in August 2025 was 20.28% on a year-on-year basis. This was 9.67% points lower compared to the 29.95% recorded in August 2024. On a month-on-month basis, the Rural inflation rate in August 2025 was 1.38%, down by 0.92% compared to July 2025 (2.30%). The corresponding twelve-month average for the Rural inflation rate in August 2025 was 23.07%. This was 6.25% points lower compared to the 29.32% recorded in August 2024.
Food inflation
The Food inflation rate in August 2025 was 21.87% on a year-on-year basis. This was 15.65% points lower compared to the rate recorded in August 2024 (37.52%). The significant decline in the annual food inflation figure is technically due to the change in the base year.
On a month-on-month basis, the Food inflation rate in August 2025 was 1.65%, down by 1.47% compared to July 2025 (3.12%). The decrease can be attributed to the rate of decline in the average prices of Rice (Imported), Rice (local), Guinea corn flour, Maize flour sold loose, Guinea Corn (Sorghum), Millet, Semolina, Soya milk etc.
The average annual rate of Food inflation for the twelve months ending August 2025 over the previous twelve-month average was 25.75%, which was 11.24% points lower compared with the average annual rate of change recorded in August 2024 (36.99%).
In August 2025, Food inflation on a Year-on-Year basis was highest in Borno (36.67%), Kano (30.44%), Akwa Ibom (29.85%), while Zamfara (3.30%), Yobe (3.60%), and Sokoto (6.34%) recorded the slowest rise in Food inflation on Year-on-Year basis. On a Month-on-Month basis, however, August 2025 Food inflation was highest in Kaduna (9.37%), Katsina (9.05%), Akwa Ibom (7.87%), and while Bayelsa (-9.52%), Sokoto (-8.92%), and Borno (-8.74%) recorded decline in Food inflation on Month-on-Month basis.
All items inflation
In August 2025, All Items inflation rate on a Year-on-Year basis was highest in Ekiti (28.17%), Kano (27.27%), and Oyo (26.58%), while Zamfara (11.82%), Anambra (14.16%) and Enugu (14.20%) recorded the lowest rise in Headline inflation on a Year-on-Year basis. On a Month-on-Month basis, however, August 2025 recorded the highest increases in Yobe (9.20%), Katsina (8.59%) and Sokoto (6.57%), while Enugu (-5.32%), Taraba (-3.64%), and Nasarawa (-3.56%) recorded decline in Month-on-Month inflation.
