Inflation rate drops to 23.71% in Apriil, says NBS
The National Bureau of Statistics (NBS) on Thursday disclosed that the headline inflation rate eased to 23.71 per cent in April 2025, relative to the March 2025 headline inflation rate of 24.23per cent.
NBS in its Consumer Price Index (CPI) report noted that the April 2025 Headline inflation rate showed a decrease of 0.52per cent compared to the March 2025 headline inflation rate.
According to NBS report, “On a year-on-year basis, the Headline inflation rate was 9.99per cent lower than the rate recorded in April 2024 (33.69per cent).
“This shows that the Headline inflation rate (year-on-year basis) decreased in April 2025 compared to the same month in the preceding year (i.e., April 2024), though with a different base year, November 2009 = 100.
“Furthermore, on a month-on-month basis, the Headline inflation rate in April 2025 was 1.86per cent, which was 2.04per cent lower than the rate recorded in March 2025 (3.90per cent). This means that in April 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in March 2025.”
On urban Inflation, the report stated that, “On a year-on-year basis, in April 2025, the Urban inflation rate was 24.29per cent, 11.71% points lower compared to the 36.00 per cent recorded in April 2024. On a month-on-month basis, the Urban inflation rate was 1.18 per cent in April 2025, down by 2.78per cent compared to March 2025 (3.96per cent).
“The corresponding 12-month average for the Urban inflation rate was 30.41per cent in April 2025. This was 0.39percentage points higher compared to the 30.02 per cent reported in April 2024.”
The report by NBS on rural inflation explained that rural inflation rate in April 2025 was 22.83per cent on a year-on-year basis.
“This was 8.81percentage points lower compared to the 31.64per cent recorded in April 2024. On a month-on-month basis, the Rural inflation rate in April 2025 was 3.56per cent, down by 0.17per cent compared to March 2025 (3.73per cent).
“The corresponding 12-month average for the Rural inflation rate in April 2025 was 26.29per cent. This was 0.09percentage points lower compared to the 26.38per cent recorded in April 2024,” the report added.
The report stated that Food inflation rate in April 2025 was 21.26per cent on a year-on-year basis.
“This was 19.27percentage points lower compared to the rate recorded in April 2024 (40.53per cent). The significant decline in the food annual inflation figure is technically due to the change in the base year.
“However, on a month-on-month basis, the Food inflation rate in April 2025 was 2.06per cent, down by 0.12per cent compared to March 2025 (2.18per cent). The de[1]crease can be attributed to the rate of decrease in the average prices of Maize (Corn) Flour, Wheat Grain, Okro Dried, Yam Flour, Soya Beans, Rice, Bambara beans, Brown Beans, etc.
“The average annual rate of Food inflation for the 12-month ending April 2025 over the previous 12-month average was 31.43per cent, which was 1.31percentage points lower compared with the average annual rate of change recorded in April 2024 (32.74per cent)
