Nigeria’s inflation charge dropped barely to 23.71% in April 2025, signaling a little bit of reduction for shoppers after months of rising costs. This marks a decline of 0.52 proportion factors from the 24.23% recorded in March.
The newest information from the Nationwide Bureau of Statistics (NBS) reveals that meals inflation additionally slowed down, falling from 21.79% in March to 21.26% in April. This drop was linked to decrease costs of important meals objects resembling maize flour, wheat grain, dried okro, yam flour, soya beans, rice, bambara beans, and brown beans.
In its Client Value Index (CPI) report, the NBS acknowledged that the CPI rose to 119.52 in April, a slight improve from the earlier month. Nonetheless, the year-on-year figures present a extra promising pattern.
In comparison with April 2024, when inflation stood at 33.69%, the present charge is 9.99 proportion factors decrease. Equally, meals inflation dropped sharply year-on-year from 40.53% in April 2024 to 21.26% in April 2025—a 19.27 proportion level decline. The NBS defined that the drop was partly attributable to a revision within the base 12 months used for calculation.
Month-on-month, meals costs additionally inched down by 0.12%, from 2.18% in March to 2.06% in April.
Whereas this dip in inflation brings cautious optimism, specialists warn that constant and sound financial insurance policies might be key to sustaining stability within the months forward.
The publish Nigeria’s Inflation Price Drops to 23.71% appeared first on Kano Instances.
