Ahead of the release of the August inflation data, Coronation Asset Management, in its inflation outlook, has projected a continued decline driven by foreign exchange stability and the harvest season.
The National Bureau of Statistics is expected to publish the inflation report for August on Monday (today), with inflation expected to continue to decelerate and hit five months of dips.
Nigeria’s inflation rate declined for the fourth consecutive month in
July 2025, settling at 21.88 per cent year-on-year, down from 22.22 per cent in June. Compared to July 2024, when the rate stood at 33.40 per cent, this represented an 11.52 percentage point drop, signalling some economic relief.
Food inflation presented a mixed trend as it stood at 22.74 per cent year-on-year in July, compared to 39.53 percent in the same month last year.