Nigeria’s headline inflation rate eased to 23.71% in April 2025, down from 24.23% in March, according to the latest figures from the National Bureau of Statistics (NBS).
The report shows a 0.52% decline in the monthly inflation rate, signaling a slower rise in prices nationwide. Compared to April 2024, when inflation stood at 33.69%, the year-on-year rate has dropped by 9.99 percentage points.
The month-on-month inflation rate for April was 1.86%, a significant reduction from 3.90% recorded in March. The NBS explained that this indicates a lower pace of price increases in April compared to the previous month.
Food inflation, a key driver of overall inflation, also recorded a notable decline. On a year-on-year basis, it fell sharply to 21.26% in April 2025, compared to 40.53% in April 2024—a difference the NBS attributed to a change in the base year used for calculations.
Month-on-month food inflation stood at 2.06% in April, slightly down from 2.18% in March. The decline was driven by falling prices of staple foods such as maize flour, wheat, okro, yam flour, soya beans, rice, Bambara beans, and brown beans.
For the 12 months ending in April 2025, the average annual food inflation rate was 31.43%, a drop from 32.74% in the previous 12-month period, the NBS added.