Nigeria’s inflation rate dropped to 23.71% in April 2025, down from 24.23% in March, according to the latest data from the National Bureau of Statistics (NBS).
The Consumer Price Index (CPI) report, released on Thursday, shows a month-on-month decline of 1.86%, indicating a slight cooling in price pressures across the economy.
The report also revealed that food inflation, which has been a major driver of overall inflation, stood at 21.26% year-on-year in April — a positive shift amid recent efforts to stabilize food prices.
“In April 2025, the headline inflation rate eased to 23.71% relative to the March 2025 headline inflation rate of 24.23%. The MoM headline inflation rate was 1.86%. The food inflation rate was 21.26% (YoY),” the NBS stated via its official X (formerly Twitter) account.
The latest inflation figures come just days before the Central Bank of Nigeria’s Monetary Policy Committee (MPC) meeting, scheduled for May 19–20, 2025. The MPC is expected to consider this fresh data in its interest rate decision.
Inflation had previously surged to 24.23% in March following a CPI rebasing in January 2025, but the new report may signal a turning point. In February, the CBN paused interest rate hikes after a brief drop in inflation.
Economic analysts will be watching closely to see if this downward trend continues and how it might influence future monetary policy decisions.
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