Inflation drops to 22.97% in May, offering some relief for Nigerian consumers.
Nigeria’s inflation rate eased to 22.97% in May 2025 from 23.71% in April, according to the National Bureau of Statistics (NBS). This marks the second consecutive monthly decline, raising hopes of macroeconomic stability.
“The moderation is largely due to stabilised fuel prices and lower food costs,” analysts said. While the drop signals progress, prices of basic goods remain elevated, continuing to strain household budgets. Policymakers are expected to monitor trends closely as they work to sustain the decline.