BREAKING: Nigeria’s Inflation Rate Drops for 5th Consecutive Time as Food Prices Decline

BREAKING: Nigeria’s Inflation Rate Drops for 5th Consecutive Time as Food Prices Decline

Nigeria’s inflation rate dropped for the fifth straight month, settling at 21.12 percent in August 2025 compared to 21.88 percent recorded in July, largely due to a decline in food prices.

Eagles Sight News gathers that the  National Bureau of Statistics (NBS) disclosed this in its August Consumer Price Index and inflation report released on Monday. On a month-on-month comparison, inflation slowed by 0.74 percent.

Food inflation also moderated, standing at 1.65 percent month-on-month. For perspective, the inflation rate in August 2024 was 32.15 percent but declined to 21.12 percent in the corresponding month this year.

“In August 2025, the headline inflation rate eased to 20.12 percent relative to the July 2025 headline inflation rate of 21.88 percent,” NBS wrote on X on Monday.

This trend suggests that the Central Bank of Nigeria’s (CBN) Monetary Policy Committee could, at its next meeting, decide to maintain the benchmark interest rate of 27.50 percent and other parameters, or cut the rate.