NG inflation rate eases to 22.97% - NBS

The National Bureau of Statistics (NBS) has announced a drop in Nigeria’s headline inflation rate from 23.71 per cent in April 2025 to 22.97 per cent in May 2025.

Ironically, food inflation rose to 21.14%, up by 0.12% when compared to 2.06% recorded the previous month.

The Bureau made these known in its Consumer Price Index (CPI) report released on Monday, June 16, 2025 in Abuja.

“On a year-on-year basis, the Headline inflation rate was 10.98% lower than the rate recorded in May 2024 (33.95%),” NBS said.

“Furthermore, on a month-on-month basis, the Headline inflation rate in May 2025 was 1.53%, which was 0.33% lower than the rate recorded in April 2025 (1.86%).

“This means that in May 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in April 2025.”

The statistics body said the headline inflation rate was driven by the cost of food, accommodation and transport services.

The statistics firm said the food inflation rate in May 2025 was 21.14 percent on a year-on-year basis.