Based on the Consumer Price Index (CPI) data from the National Bureau of Statistics (NBS), Nigeria’s headline inflation eased by 74basis points to 22.97 per cent in May 2025 from 23.71 per cent reported in April 2025.
On a month-on-month basis, consumer prices moderated to 1.53 per cent from 1.86 per cent month-on-month (m/m) in April 2025.
Accordiing to NBS report, the Food inflation moderated by 12bps to 21.14per cent y/y in May (April: 21.26% y/y). On a month-on-month basis, food inflation increased by 13bps to 2.19 per cent (April: 2.06 per cent m/m), attributed to the rate of increase in the average prices of Yam, Avenger (Ogbono/Apon), Cassava Tuber, Maize Flour, Fresh Pepper, and Sweet Potatoes.
Similarly, core inflation (all items excluding farm produce and energy) eased by 110bps to 22.28 per cent y/y in May (April: 23.39per cent y/y). On a month-on-month basis, the core index moderated sharply by 24bps to 1.10 per cent m/m (April: 1.34 per cent m/m).
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