NIGERIA’S headline inflation rate declined to 23.71% in April 2025, according to the latest Consumer Price Index (CPI) report released today by the National Bureau of Statistics (NBS).
The figure reflects a 0.52 percentage point drop from the March 2025 rate of 24.23%, indicating a slight easing in the country’s overall inflationary pressure.
On a month-to-month basis, inflation also slowed significantly, with the rate standing at 1.86% in April compared to 3.90% recorded in March.
“This indicates that the pace of price increases in April was lower than in the previous month,” the NBS explained, noting that the rate of inflation in April 2025 was also lower when compared to April 2024, though based on a different reference year.
In terms of food inflation, a key driver of overall inflation, the rate dropped slightly to 21.26% in April from 21.79% in March — a 0.53 percentage point decline. On a monthly basis, food inflation eased to 2.06%, down from 2.18% in the prior month.
The moderation in food inflation was primarily attributed to falling prices of staples such as maize flour, wheat grain, dried okra, yam flour, soybeans, rice, bambara beans, and brown beans.
Core inflation, which excludes volatile items like food and energy, also saw a notable decrease. It dropped to 23.39% in April from 24.43% in March — a decline of 105 basis points. On a month-on-month basis, core inflation slowed to 1.34%, a sharp drop from 3.73% in the previous month.
The overall trend suggests a temporary easing of inflationary pressures across major components of the consumer price index.