Inflation Eases, Doubts Linger

Nigeria's headline inflation rate climbed to 24.69% in April 2025, according to the latest figures released by the National Bureau of Statistics (NBS), reflecting persistent upward pressure on the cost of living despite a marginal deceleration in the monthly rate of increase. The April figure marks a modest rise from 24.23% recorded in March, underscoring the continued strain on households and businesses across the country.

- BY NIYI JACOBS

The Consumer Price Index (CPI) report published on Friday shows that the upward trajectory in inflation was largely driven by rising food prices, which continue to take a significant toll on the average Nigerian. Food inflation stood at 31.40% on a year-on-year basis, slightly above the 31.10% recorded in March. The NBS attributed this to sustained increases in the prices of essential food items including bread, cereals, yam, oil, fish, fruits, meat, and vegetables.

On a month-on-month basis, however, the pace of inflation appeared to ease slightly. The CPI rose by 1.47% in April, compared to 1.86% in March. This suggests that while prices are still going up, the speed at which they are doing so may be slowing. Analysts interpret this moderation as a potential early signal of inflation cooling, though it remains far from a reversal of the general upward trend.