Nigeria’s headline inflation rate has dropped by 0.52 percentage, from the 24.23 percent recorded in March to 23.71 percent in April 2025.
This was revealed in the most recent National Bureau of Statistics (NBS) Consumer Price Index (CPI) Report.
The food inflation index, which was 21.79 percent in March but fell by 0.53 percentage points to 21.26 percent in April, was also reported to have declined. Prices for staple foods including; rice, soy beans, brown beans, dried okro, yam flour, wheat grain, bambara beans and maize (corn) flour were reduced, which was the reason for the decline.
According to the NBS report, “The Consumer Price Index (CPI) rose to 119.52 in April 2025, reflecting a 2.18-point increase from the preceding month.”
“On a year-on-year basis, the headline inflation rate was 9.99% lower than the rate recorded in April 2024 (33.69%). This indicates a significant decrease compared to the same month in the preceding year, though with a different base year of November 2009 = 100.”
The reports further showed that the food inflation rate decreased by 19.27 percentage points from 40.53% in April 2024 to 21.26% in April 2025 on an annual basis. The NBS blamed a shift in the base year utilised for computations for this steep drop.
Six Months In: Tinubu Govt Struggles with Food Inflation (PC: Pincrest)
Food prices decreased by 0.12% from 2.18% in March 2025 to 2.06% in April 2025 on a month-over-month basis.
Although economic specialists have urged for sustained policy actions to ensure price stability in the upcoming months, consumers view the reduction of headline and food inflation as a positive trend.
Join Our Social Media Channels:
WhatsApp: NaijaEyes
Facebook: NaijaEyes
Twitter: NaijaEyes
Instagram: NaijaEyes
TikTok: NaijaEyes
