According to the National Bureau of Statistics, Nigeria’s headline inflation rate dropped to 23.71 percent in April 2025, down from 24.23 percent in March. The latest figure marks a 0.52 percentage point decline, offering some relief amid ongoing economic pressures and a rising cost of living nationwide.
This was disclosed in the latest Consumer Price Index (CPI) Report released by the National Bureau of Statistics (NBS).
According to the NBS, “On a year-on-year basis, the headline inflation rate was 9.99% lower than the 33.69% recorded in April 2024. This shows that the year-on-year inflation rate decreased in April 2025 compared to the same period last year, though based on a different reference year (November 2009 = 100).”
On a month-on-month basis, inflation dropped to 1.86% in April 2025, down from 3.90% in March, marking a 2.04 percentage point decline. This suggests a slower pace of price increases in April compared to the previous month.
The report revealed that the country’s Core inflation stood at 23.39% year-on-year in April 2025, representing a 3.45 percentage point drop from 26.84% in April 2024.
On a month-on-month basis, Core inflation was 1.34% in April 2025, down by 2.39 percentage points from 3.73% in March 2025, indicating a slower rise in prices excluding volatile items.
The average 12-month inflation rate for the period ending April 2025 was 24.91%, which is 2.07 percentage points higher than the 22.84% recorded in April 2024.
According to the report, urban inflation stood at 24.29% year-on-year in April 2025, down by 11.71 percentage points from 36.00% in April 2024.
On a month-on-month basis, urban inflation dropped to 1.18% in April 2025, compared to 3.96% in March. The 12-month average for urban inflation rose slightly to 30.41%, up from 30.02% in April 2024.
Rural inflation was reported at 22.83% year-on-year, an 8.81 percentage point drop from the 31.64% recorded in April 2024. On a month-on-month, rural inflation eased to 3.56%, down from 3.73% in March. The twelve-month average for rural inflation was 26.29%, slightly lower than the 26.38% recorded in the same month last year.
The report also highlighted that food inflation stood at 21.26% year-on-year in April 2025, a sharp 19.27 percentage point drop from 40.53% in April 2024. The NBS attributed the decline to a change in the base year used for calculation.
On a month-on-month basis, food inflation was 2.06%, slightly down from 2.18% in March 2025. The report added that the decrease can be attributed to the reduction in the average prices of key food items like Maize Flour, Wheat Grain, Okro Dried, Yam Flour, Soya Beans, Rice, Bambara Beans, and Brown Beans.
The decline in both headline and food inflation is viewed as a positive sign for consumers, offering some relief from rising living costs. However, economic analysts have emphasized the need for consistent policy efforts to maintain price stability in the months ahead.
