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Nigeria’s inflation rate dropped to 23.71 percent in April 2025, down from 24.23 percent in March 2025, according to the National Bureau of Statistics (NBS).
The data, revealed in NBS’s April Consumer Price Index (CPI) and inflation report released on Thursday, indicates a 1.86 percent decrease in month-on-month inflation.
Additionally, food inflation stood at 21.26 percent year-on-year in April, reflecting a decline in pressure on food prices.
The NBS disclosed via its X (formerly Twitter) account: “In April 2025, the headline inflation rate eased to 23.71 percent relative to the March 2025 headline inflation rate of 24.23 percent. The MoM headline inflation rate in April 2025 was 1.86 percent. The food inflation rate was 21.26 percent (YoY).”
This inflation update comes just ahead of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) meeting scheduled for May 19 and 20, 2025.
It is worth recalling that Nigeria’s inflation spiked to 24.23 percent in March, following the CPI rebasing in January 2025. In February, the CBN paused interest rate hikes after inflation experienced a brief decline.