Nigeria’s headline inflation rate has further eased to 22.97 per cent in May 2025, according to the National Bureau of Statistics (NBS).
This represents a 0.74 per cent decrease compared to the 23.71 per cent recorded in April 2025.
The headline inflation rate in May 2025 was 1.53 per cent, which was 0.33 per cent lower than the rate recorded in April 2025.
The food inflation rate in May 2025 was 21.14 per cent on a year-on-year basis and 2.19 per cent on a month-on-month basis.
The core inflation rate, which excludes volatile agricultural produce and energy, stood at 22.28 per cent in May 2025 on a year-on-year basis and 1.10 per cent on a month-on-month basis.
Food and non-alcoholic beverages contributed 9.20 per cent to the headline inflation rate., restaurants and accommodation services contributed 2.97 per cent to the headline inflation rate.
Transport contributed 2.45 per cent to the headline inflation rate.
The urban inflation rate was 23.14 per cent on a year-on-year basis and 1.40 per cent on a month-on-month basis.
The rural inflation rate was 22.70 per cent on a year-on-year basis and 1.83 per cent on a month-on-month basis.
Borno State recorded the highest inflation rate at 38.93 per cent, followed by Niger State at 34.97 per cent and Plateau State at 32.35 per cent.
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Katsina State recorded the lowest inflation rate at 16.25 per cent, followed by Adamawa State at 18.20 per cent and Delta State at 18.41 per cent.
