The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate eased to 23.71 per cent in April 2025.
The NBS said in its monthly report of the Consumer Price Index (CPI), which measures inflation, that the headline inflation showed a decrease of 0.52 per cent compared to the 24.23 per cent recorded in March 2025.
The report, released on Thursday, said that on a month-on-month basis, the headline inflation rate in April 2025 was 1.86 per cent, which was 2.04 per cent lower than the rate recorded in March 2025 at 3.90 per cent.
The NBS attributed the increase in some items in the basket of goods and services to the divisional level and that the three major contributors to the headline inflation were Food and non-alcoholic Beverages at 9.49 per cent, Restaurants and Accommodation Services at 3.06 per cent, and Transport at 2.53 per cent.
The report showed the least contributors were Alcoholic Beverages, Tobacco, and Narcotics at 0.09 per cent, Recreation, Sport, and Culture at 0.07 per cent.
According to the report, food inflation rate in April 2025 was 21.26 per cent on a year-on-year basis, while on a month-on-month basis, the food inflation rate in April was 2.06 per cent, which decreased by 0.12 per cent compared to the 2.18 per cent recorded in March 2025.
The NBS explained that the decrease in food inflation was attributed to the reduction in average prices of items such as Maize (Corn) Flour, Wheat Grain, Okro Dried, Yam Flour, Soya Beans, Rice, Bambara beans, Brown Beans etc.
The report also said that on a year-on-year basis in April 2025, the urban inflation rate was 24.29 per cent, while on a month-on-month basis, the urban inflation rate was 1.18 in April 2025, which decreased by 2.78 per cent compared to March at 3.96 per cent.
The report said that in April, the rural inflation rate was 22.83 per cent on a year-on-year basis, while on a month-on-month basis, the rural inflation rate was 3.56 per cent in April, which decreased by 0.17 per cent compared to March at 3.73 per cent.”
GIK/APA