US EditionNigeria's Annual Inflation Rate Slows for Second Month in a Row
- On Monday, Nigeria's annual headline inflation rate was reported to have decreased to 22.97% in May 2025, down from 23.71% in April 2025, according to official statistics.
- The reduction in inflation followed the NBS's update of the Consumer Price Index base year to 2024 and was associated with slower cost growth in important areas such as agricultural goods, public services, apparel, and healthcare.
- Food inflation remained high at 21.14% year-on-year in May 2025, slightly down from 21.16% in April, though it increased marginally month-on-month to 2.19% from 2.06%.
- The headline inflation rate declined by 0.74 percentage points from April to May, with month-on-month inflation slowing to 1.53% in May from 1.86% in April, indicating a gradual moderation in price pressures.
- This continued inflation slowdown suggests progress in Nigeria's economic stability efforts, though analysts warn that elevated food inflation and fiscal uncertainties remain risks.
23 Articles
23 Articles
LCCI sees positiveness as inflation rate eased to 22.97 per cent in May - Worldstage
WorldStage Newsonline– The Lagos Chamber of Commerce and Industry (LCCI) has urged the country to not lose momentum in addressing the structural drivers of inflation in spite of the easing inflation rate development. Dr Chinyere Almona, Director General, LCCI, in reaction to the May inflation figure of 22.97 per cent, gave the advice on Tuesday in a statement in Lagos. According to the National Bureau of Statistics (NBS), Nigeria’s headline infl…
Nigeria’s Inflation Rate Eases for Second Straight Month to 22.97%, But Food Prices and Structural Threats Remain
Nigeria’s headline inflation rate eased to 22.97% in May 2025, marking a second consecutive month of decline, according to the latest data from the National Bureau of Statistics (NBS). The new figure, down from April’s 23.71%, points to a gradual cooling of inflationary pressures, though many Nigerians still say the impact has yet to be […] The post Nigeria’s Inflation Rate Eases for Second Straight Month to 22.97%, But Food Prices and Structura…
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