The National Bureau of Statistics (NBS) has reported that Nigeria’s headline inflation rate dropped to 21.88 percent in July 2025, compared to 22.22 percent in June. The data, published in the bureau’s Consumer Price Index (CPI) report on Friday, marks the fourth straight month of disinflation in 2025. According to the NBS, the July inflation figure reflected a “decrease of 0.34% compared to the June 2025 headline inflation rate.” On a yearly comparison, the report showed the July 2025 headline inflation was 11.52 percentage points lower than the 33.40 percent recorded in July 2024. However, the agency highlighted that price growth accelerated in July on a month-to-month basis. “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 bureau identified food and non-alcoholic beverages, restaurants and accommodation services, and transport as the main drivers of inflation during the month under review.