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Nigeria’s inflation rate declined to 23.71% in April 2025, from 24.23% in March, according to new data released by the National Bureau of Statistics (NBS).
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The month-on-month inflation also eased by 1.86%, while food inflation was recorded at 21.26% year-on-year for April.
Nigeria’s headline inflation rate dropped to 23.71 percent in April 2025, down from 24.23 percent in March.
This was disclosed by the National Bureau of Statistics (NBS) in its April Consumer Price Index (CPI) report released on Thursday.
The data also showed a 1.86 percent decline in inflation on a month-on-month basis, while food inflation stood at 21.26 percent year-on-year in April. “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 NBS said in a post on its official X account.
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This update comes just days before the Central Bank of Nigeria’s Monetary Policy Committee (MPC) convenes for a critical meeting scheduled for May 19 and 20, 2025.
The last MPC session in February paused interest rate hikes after inflation showed signs of slowing, following a CPI rebasing in January that pushed March inflation to its highest under the new measure.
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