Nigeria’s inflation rate has declined for the fifth consecutive month, easing to 21.12% in August 2025 from 21.88% in July, according to the latest data released by the National Bureau of Statistics (NBS).
The NBS Consumer Price Index, published on Monday, showed that the drop was primarily driven by a slowdown in food prices, which remain a key component of the inflation basket.
On a month-to-month basis, inflation eased by 0.74 per cent, while food inflation slowed to 1.65 per cent.
The bureau in a post on 𝕏 noted, “In August 2025, the headline inflation rate eased to 21.12 per cent relative to the July 2025 headline inflation rate of 21.88 per cent.”
The figures also represent a significant year-on-year improvement. In August 2024, inflation had stood at 32.15 per cent, underscoring the pace of decline over the past 12 months.
In other news, former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has warned that it is unfair to demand more taxes from Nigerians amid the profligacy and corruption by political leaders.
Naijaonpoint reports that Moghalu, in a post via 𝕏 on Sunday, described Nigeria’s political class as self-entitled elites who lack transparency.
He questioned how oil revenues and billions of dollars in borrowed funds had been spent, stressing that accountability must precede any fresh tax demands.