Nigeria’s headline inflation rate has eased to 23.71% in April 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The statistics office said the April 2025 headline inflation figure represents a 0.52 per cent decline when compared to that of March 2025.
On a month-on-month basis, inflation growth slowed considerably, printing at 1.86 per cent in April compared to 3.90 per cent recorded in March.
The NBS said this showed that the headline inflation rate (year-on-year basis) fell in April 2025 compared to the same month in the corresponding period of April 2024, though with a different base year.
“This means that in April 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in March 2025,” it said.
The statistics office also reported that the country’s food inflation saw a 0.53 per cent decline, coming in at 21.26 per cent in April from 21.79 per cent in March.
Month-on-month, the index eased to 2.06 per cent in the period under review from 2.18 per cent in the previous month.
The moderation in food prices was largely driven by reduction in the average prices of key staples including maize flour, wheat grain, dried okra, yam flour, soya beans, rice, bambara beans, and brown beans.
Similarly, core inflation which excludes the volatile components of food and energy, saw a notable slowdown, dropping by 105 basis points to 23.39 per cent year-on-year in April, from 24.43 per cent in March.
On a monthly basis, the core index recorded a significant drop to 1.34 per cent, down from 3.73 per cent the previous month.
The overall cooling of inflation across key categories suggests a temporary easing in price pressures.
