Nigeria’s inflation rate fell to 23.71% in April 2025, driven by a decline in food and transport costs, according to the National Bureau of Statistics.
TRIBUNE ONLINE
Nigeria’s headline inflation rate dropped to 23.71% in April 2025, down from 24.23% in March, according to data released by the National Bureau of Statistics (NBS) on Thursday in Abuja.
The report, based on a new consumer price index (CPI) with a 2024 base year, attributes the decline to reduced prices in staples such as maize flour, yam flour, and beans.
The NBS said: “The three major contributors to the headline inflation were Food and non-alcoholic Beverages (9.49%), Restaurants & Accommodation Services (3.06%), and Transport (2.53%).”
Core inflation, which excludes volatile food and energy prices, stood at 23.39% year-on-year, while month-on-month it fell to 1.34% from 3.73% in March.
Food inflation eased to 21.26% year-on-year and 2.06% month-on-month.
Urban inflation declined to 24.29%, while rural inflation dropped to 22.83%.
Enugu (35.98%) recorded the highest year-on-year headline inflation, while Ondo (13.43%) had the lowest.
Food inflation peaked in Benue (51.76%) but declined in Ebonyi (-14.43%) and Kano (-11.37%).