The Centre for the Promotion of Private Enterprise (CPPE) has expressed concern that food prices in Nigeria remain high even though inflation has dropped again.

Figures from the National Bureau of Statistics show that headline inflation fell to 21.88 percent in July 2025, compared to 22.22 percent in June. This is the fourth straight decline, giving hope that the economy may be moving towards some level of stability.

CPPE noted that the improvement is a result of exchange rate stability and stronger investor confidence. However, the group warned that economic pressures are still being felt across the country, especially in food prices which continue to burden households.

The think tank explained that Nigeria needs more than temporary measures to solve these problems. It stressed that a balanced mix of monetary, fiscal, and structural reforms is needed to secure lasting growth.

CPPE also advised the Central Bank of Nigeria to adopt more creative tools to manage liquidity in the economy, instead of relying only on raising interest rates or tightening cash reserve requirements.

According to the organisation, the July inflation figures show cautious progress. While headline and core inflation have moderated, the persistent rise in food costs and month-to-month price increases reveal deeper structural challenges.

CPPE believes that only a coordinated approach can turn these short-term gains into long-term stability for the Nigerian economy.