The National Bureau of Statistics (NBS) has reported a fresh spike in Nigeria’s inflation rate, with the headline index climbing to 24.23% in March 2025 — up from 23.18% recorded in February.
This marks a 1.05 percentage point increase month-on-month and reflects a 4.4-point jump in the Consumer Price Index (CPI), which rose to 117.34 in March.
The figures were disclosed in the NBS’ latest Consumer Price Index Report released on Thursday.
“In March 2025, the Headline inflation rate rose to 24.23% relative to the February 2025 headline inflation rate of 23.18%,” the report stated.
Analysts say the sharp rise reflects continued pressure on household spending power, driven by surging food prices, exchange rate volatility, and energy costs.
More details to follow.
Comments