The National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) report released on Thursday, said Nigeria’s headline inflation rate has dropped to 23.71% in April 2025 from 24.23% recorded in March.
The Bureau said the 23.71% April 2025 “headline inflation rate showed a decrease of 0.52% compared to the March 2025 Headline inflation rate”.
“On a month-on-month basis, the Headline inflation rate in April 2025 was 1.86%, which was 2.04% lower than the rate recorded in March 2025 (3.90%)”, it added.
“This means that in April 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in March 2025.”
Similarly, on a year-on-year basis, the Headline inflation rate was 9.99% lower than the rate recorded in April 2024 (33.69%).
“This shows that the Headline inflation rate (year-on-year basis) decreased in April 2025 compared to the same month in the preceding year (i.e., April 2024), though with a different base year, November 2009 = 100.”
Also, the food inflation rate in April 2025 recorded a 21.26% on a year-on-year basis. This was 19.27% points lower compared to the rate recorded in April 2024 (40.53%).
The Bureau said the significant decline in the annual food inflation figure is technically due to the change in the base year.
But on a month-on-month basis, NBS reported that “food inflation rate in April 2025 was 2.06%, down by 0.12% compared to March 2025 (2.18%). The decrease can be attributed to the rate of decrease in the average prices of Maize (Corn) Flour, Wheat Grain, Okra Dried, Yam Flour, Soya Beans, Rice, Bambara beans, Brown Beans, etc.
“The average annual rate of Food inflation for the twelve months ending April 2025 over the previous twelve-month average was 31.43%, which was 1.31% points lower compared with the average annual rate of change recorded in April 2024 (32.74%).”
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