Nigeria’s inflation rate eased to 23.7% in April, says NBS
Nigeria’s headline inflation rate dropped 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 NBS said the April 2025 figure represents a 0.52% decline when compared to that of March 2025.
The figure showed that Nigeria’s inflation cooled off by 1.86 percent on a month-on-month basis.
Similarly, the food inflation rate in April stood at 21.26 percent.
“In April 2025, the headline inflation rate eased to 23.71 percent relative to the March 2025 headline inflation rate of 24.23 percent.
“The MoM headline inflation rate in April 2025 was 1.86 percent. The food inflation rate was 21.26 percent (YoY),” NBS wrote on its X account on Thursday.
The latest CPI data comes ahead of the Central Bank of Nigeria’s Monetary Policy Committee meeting slated for May 19 and 20, 2025.
Recall that Nigeria’s inflation rose to 24.23 percent in March for the first time after CPI rebase in January 2025.
In February, the CBN MPC paused interest rate hikes after inflation dropped.
