Decline technically due to change in base year, agency explains
Nigeria’s annual inflation rate eased to 23.71 per cent in April from 24.23 per cent in March 2025, the National Bureau of Statistics (NBS) has said.
The statistics office Thursday said the April 2025 headline inflation rate showed a decrease of 0.52 per cent compared to the March 2025 headline inflation rate.
On a year-on-year basis, the headline inflation rate was 9.99 per cent lower than the rate recorded in April 2024 (33.69 per cent).
This, it said, 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.
The NBS said on a month-on-month basis, the headline inflation rate in April 2025 was 1.86 per cent, which was 2.04 per cent lower than the rate recorded in March 2025 (3.90 per 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,” it said.
According to the report, food inflation rate in April 2025 was 21.26 per cent on a year-on-year basis. This, it said, was 19.27 per cent points lower compared to the rate recorded in April 2024 (40.53 per cent).
