Nigeria’s headline inflation rate increased to 24.23% in March 2025, according to the Nigeria Bureau of Statistics (NBS), the official government data source.
This rise from 23.18% in February 2025 to 24.23% in March 2025 reflects a significant surge in commodity and energy costs over the past few months and weeks..
According to the March 2025 Consumer Price Index (CPI) Report, which measures the inflation rate released by the government agency on Tuesday, the country’s food inflation rate was 21.79% year-on-year in March 2025.
The food inflation rate, however, showed a decrease compared to the food inflation rate of 23.51% recorded in February 2025.
Food and commodity inflation have skyrocketed as Nigerians battle what can pass for the worst cost of living crisis since the country’s independence over six decades ago, a development that economic wizards have attributed to President Bola Tinubu’s twin policies of petrol subsidy removal and unification of the forex rates.
More to follow…
