National Bureau of Statistics has revealed that Nigeria’s headline inflation rate slightly dropped to 23.71 per cent in April 2025, from 24.23 per cent in March.
NBS, in a statement on Thursday, disclosed that the movement for April 2025 inflation rate showed a decrease of 0.52% compared to the March 2025 rate.
The bureau added that the country’s food inflation saw a 0.53% decline, coming in at 21.26% in April from 21.79% in March.
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Month-on-month, the index eased to 2.06% in the period under review from 2.18% in the previous month.
The moderation in food prices was largely driven by reduction in the average prices of key staples including maize flour, wheat grain, dried okra, yam flour, soya beans, rice, bambara beans, and brown beans.
READ MORE: Nigeria’s Inflation Jumps From 23.18% To 24.23% In March 2025
Similarly, core inflation which excludes the volatile components of food and energy, saw a notable slowdown, dropping by 105 basis points to 23.39% year-on-year in April, from 24.43% in March.
On a monthly basis, the core index recorded a significant drop to 1.34%, down from 3.73% the previous month.
The overall cooling of inflation across key categories suggests a temporary easing in price pressures.
The statement partly reads: “However, on a month-on-month basis, the 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.
“However, on a month-on-month basis, the 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.”
