- Safiu Kehinde
The National Bureau of Statistics (NBS) has recorded a drop in Nigeria’s headline inflation rate to 20.12% in August.
This was contained in the bureau’s Consumer Price Index and Inflation report for August released on Monday.
According to the report, the headline inflation dropped to 20.12% as against the 21.88% record in July.
This showed a decrease 1.76% as compared to July’s inflation rate.
NBS attributed the development to the reduction to the lower cost of foods, electricity, gas, and transportation.
On year-on-year basis, the August 2025 headline inflation rate was 12.03% lower than August 2024 which had the inflation rate pegged at 32.15%.
In the same vein, 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.