Nigeria’s Inflation Rate Drops to 20.12%

Nigeria’s headline inflation slowed slightly to 20.12% in August, according to the latest figures from the National Bureau of Statistics (NBS). This marks a modest decline compared to previous months, where rising prices for food, fuel, and essential goods had put pressure on households.

Economists note that while the easing is a positive sign, inflation remains high and continues to affect the cost of living for millions of Nigerians. Food inflation in particular remains a major driver, with staples such as rice, bread, and vegetables still costing more than most families can comfortably afford.

Government officials have welcomed the dip as evidence that recent policy measures are beginning to have an effect. However, experts caution that sustained progress will depend on stable exchange rates, improved food supply, and reduced transport costs.

This drop in inflation is like a small breather for Nigerians — things are still expensive, but at least the speed of price increases has slowed down. For families, it may not yet feel like relief at the market, but if the trend continues, it could signal better days ahead. The key question now is whether the government can build on this to bring prices down further.