Inflation slows to 21.88% in July even as food prices climb

Headline inflation eased for a fourth straight month in July to 21.88% from 22.22% in June following an update to the CPI basket and base year. However, food inflation ticked higher to 22.74%, underscoring persistent pressure on household budgets. The Central Bank maintained the policy rate at 27.5%, signalling a preference to consolidate disinflation trends while monitoring exchange-rate and supply-side risks.

Source: https://www.reuters.com/world/africa/nigerias-inflation-eases-july-food-price-rise-2025-08-15/