VIDEO: Inflation Still Relatively High — Paul Alaje

The Chief Economist at SPM Professionals, Paul Alaje, on Tuesday said despite the drop in Nigeria’s inflation, there is still a high increase in the prices of commodities.

Latest figures from the National Bureau of Statistics (NBS) indicated that headline inflation fell to 20.12% in August 2025, down from 21.88% in July.

READ ALSO: Nigeria’s Inflation Will Drop To Single Digit — Presidency

But Alaje said the nation’s inflation is still in double digits.

“There might have been a relative reduction in some food items, but not in the volume that some persons have mentioned in the media, which may have some political coloration.

“Generally, household items are still quite high, and that is not saying that food inflation is at a single digit. It is still at double digits, which is still relatively high. But it is an improved inflation number compared to what the NBS reported.”

According to Alaje, there is a slight reduction in rural-urban inflation.

According to the NBS, the August 2025 inflation rate showed a 1.76% drop compared to July.

On a monthly basis, headline inflation stood at 0.74% in August, while food inflation was 1.65%. Year-on-year, inflation was 12.03% lower than the 32.15% recorded in August 2024, the agency said on Monday.