Nigeria’s headline inflation rate eased to 23.71% in April 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Thursday.
The statistics office said the April 2025 headline inflation figure represents a 0.52% decline when compared to that of March 2025.
On a month-on-month basis, inflation growth slowed considerably, printing at 1.86% in April compared to 3.90% recorded in March.
The NBS said this shows 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.
Meanwhile, the statistics office also reported that the country’s food inflation saw a 0.53% decline, coming in at 21.26% in April from 21.79% in March.
Month-on-month, the index eased to 2.06% in the period under review from 2.18% in the previous month.
The moderation in food prices was largely driven by a 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% year-on-year in April, from 24.43% in March.
On a monthly basis, the core index recorded a significant drop to 1.34%, down from 3.73% the previous month.
The overall cooling of inflation across key categories suggests a temporary easing in price pressures.
