Nigeria’s inflation rate drops to 22.97%
[NigerianEye - Nigeria] - 16/06/2025
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate has dropped to 22.97 percent in May 2025, down from 23.71 percent in April. NBS announced the increase in its consumer price index (CPI) on Monday. “On a year-on-year basis, the Headline inflation rate was 10.98% lower than the rate recorded in May 2024 (33.95%),” NBS said. “Furthermore, on a month-on-month basis, the Headline inflation rate in May 2025 was 1.53%, which was 0.33% lower than the rate recorded in April 2025 (1.86%). “This means that in May 2025, the rate of increase in the average price level is (…)
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