Just In: Inflation Rises To 24.23% In March — NBS

The National Bureau of Statistics (NBS) has announced a further rise in Nigeria’s headline inflation, with the rate climbing to 24.23% in March 2025, marking a 1.05% increase from the 23.18% recorded in February.

Naijaonpoint reports that this development was revealed in the NBS’s latest Consumer Price Index (CPI) report for March 2025, which noted a 4.4-point rise in the inflation figure within a month.

According to the report: “The Consumer Price Index (CPI) rose to 117.34 in March 2025 reflecting a 4.40-point increase from the preceding month.

“In March 2025, the Headline inflation rate rose to 24.23% relative to the February 2025 headline inflation rate of 23.18%.

“Looking at the movement, the March 2025 Headline inflation rate showed an increase of 1.05% compared to the February 2025 Headline inflation rate.”

This marks the first uptick in the CPI since the index was rebased in January 2025, signifying a new inflationary trend that could prompt adjustments in monetary policy.

In February, the Central Bank’s Monetary Policy Committee (MPC) had paused interest rates at 27.50%. With the current surge in inflation, the MPC is now faced with the decision to either maintain the status quo or tighten rates to contain inflationary pressures.