Nigeria’s inflation charge slowed to 22.97% in Could 2025, in line with the Nationwide Bureau of Statistics (NBS), marking a modest aid within the nation’s {economic} strain, although meals costs proceed to climb.
The Client Value Index (CPI) report launched Monday, June 16, by the NBS confirmed a 0.74 share level decline from April’s 23.71%.
In comparison with the identical interval final yr, headline inflation fell sharply by 10.98 factors from 33.95%.
“In Could 2025, the Headline inflation charge eased to 22.97 p.c relative to the April 2025 headline inflation charge of 23.71 p.c,” the NBS stated in its Client Value Index report.
“Trying on the motion, the Could 2025 Headline inflation charge decreased 0.74 p.c in comparison with the April 2025 Headline inflation charge.”
On a month-to-month foundation, costs rose by 1.53 p.c in Could, down from 1.86 p.c in April. But, the price of meals continues to rise sooner than most family incomes.
Meals inflation stood at 21.14 p.c year-on-year in Could. Whereas that seems decrease than the 40.66 p.c recorded in Could 2024, the NBS defined that the distinction is because of latest changes in how inflation is measured.
In actuality, meals costs climbed 2.19 p.c month-on-month in Could, in comparison with 2.06 p.c in April.
The objects driving this enhance embrace yam, cassava flour, maize flour, candy potatoes, contemporary pepper, and ogbono.
READ ALSO: Inflation Fee Drops to 23.71% in April— NBS
In city areas, inflation rose barely to 1.40 p.c in Could, up from 1.18 p.c in April. Rural areas noticed some aid, with the speed dropping to 1.83 p.c, from 3.56 p.c within the earlier month.
Core inflation, which excludes meals and power, fell to 22.28 p.c year-on-year in Could, in comparison with 27.04 p.c in April. On a month-to-month foundation, it slowed to 1.10 p.c from 1.34 p.c.
The NBS recognized meals and non-alcoholic drinks as the principle drivers of inflation, contributing 9.20 share factors.
Different important elements included restaurant and lodging companies, transport, housing and utilities, and schooling.
state-by-state breakdowns, Bayelsa recorded the very best month-to-month inflation at 9.11 p.c, adopted by Bauchi and Borno.
On the decrease finish, Kaduna noticed a uncommon deflation of -6.75 p.c, adopted by Jigawa and Edo.
Meals inflation was highest in Borno at 64.36 p.c year-on-year, with Bayelsa and Taraba shut behind. Katsina, Rivers, and Kwara reported the bottom year-on-year meals inflation charges.
Month-on-month meals inflation additionally surged in Bayelsa, Cross River, and Anambra. Conversely, costs truly fell in Katsina, Jigawa, and Kaduna.
Regardless of the drop in general inflation, most Nigerians proceed to grapple with rising prices of dwelling. The value of meals, specifically, stays a supply of every day stress for tens of millions throughout the nation.
