Nigeria's inflation rate decreased to 23.71% year-on-year in April 2025.

Nigeria's National Bureau of Statistics (NBS) has released the Consumer Price Index (CPI) for April 2025, indicating that the inflation rate in the country has slightly decreased to 23.71% on a year-on-year basis. This is a drop from the 24.23% recorded in March 2025. The moderation in the headline inflation rate is largely attributed to base-year effects, as the rate had reached a peak of 33.69% in April 2024.

Core inflation, which excludes the prices of volatile agricultural produce, and food inflation also experienced a decline during this period. However, it is important to note that these reductions are more indicative of statistical adjustments rather than a widespread decrease in the general price levels of goods and services across the economy.

While the slight easing of inflation may be seen as a positive sign, it is crucial to highlight that consumer prices, particularly for food and energy, remain significantly high due to persistent economic challenges. These pressures are likely to continue affecting the purchasing power of the average Nigerian and the overall cost of living in the country.

For a more comprehensive understanding of the economic landscape and its implications for businesses and individuals, it is advisable to stay updated with the latest data and analyses provided by reliable sources such as @nairametrics. Their data-driven insights can help navigate the complexities of the Nigerian economy and make informed decisions.