Gate News message, April 15 — Nigeria’s headline inflation rate eased to 20.12% year-on-year in August 2025, down from 21.88% in July, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). Month-on-month, prices rose by 0.74%, a slower pace than previous months.
Food inflation, the largest driver of headline inflation, moderated to 1.65% month-on-month in August. The easing follows months of aggressive monetary tightening by the Central Bank of Nigeria (CBN), which has maintained its benchmark interest rate at 27.5%, among the highest in Africa. Analysts attributed the slowdown partly to the NBS rebasing of the Consumer Price Index earlier in 2025, which adjusted the calculation methodology to reflect current spending patterns, and to the relative cooling of food price pressures after months of supply disruptions and high transport costs.
The improvement marks a significant decline from August 2024, when inflation surged above 30% following fuel subsidy removal and currency reforms. However, at 20.12%, inflation remains among the highest in the region. Economists said sustaining the disinflation trend will require structural reforms to boost agricultural production, stabilize power supply, and reduce transportation bottlenecks.
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