The headline inflation rate for April 2025 eased to 23.71 per cent relative to the March 2025 inflation rate of 24.23 per cent. This represents a decrease of 0.52 per cent from March 2025.
The National Bureau of Statistics which announced this on Thursday also informed that food inflation rate in April 2025 was 21.26 per cent on a year-on-year basis. On a month-on-month basis, the food inflation rate in April 2025 was 2.06 per cent, a decline of 0.12 per cent compared to March 2025 (2.18 per cent).
NBS attributed the decrease to the reduction in average prices of items such as Maize (Corn) Flour, Wheat Grain, Okro Dried, Yam Flour, Soya Beans, Rice, Bambara beans, Brown Beans etc.
At the divisional level, the three major contributors to the headline inflation were Food and non-alcoholic Beverages: 9.49%, Restaurants & Accommodation Services: 3.06%, and Transport: 2.53%; while the least contributors were Alcoholic Beverages, Tobacco, and Narcotics: 0.09%, Recreation, Sport, and Culture: 0.07%.
On a month-on-month basis, the headline inflation rate in April 2025 was 1.86%, which was 2.04% lower than the rate recorded in March 2025 (3.90%).
Food Inflation Rate:
The food inflation rate in April 2025 was 21.26% on a year-on-year basis. On a month-on-month basis, the food inflation rate in April 2025 was 2.06%, a decline of 0.12% compared to March 2025 (2.18%). The decrease can be attributed to the reduction in average prices of items such as Maize (Corn) Flour, Wheat Grain, Okro Dried, Yam Flour, Soya Beans, Rice, Bambara beans, Brown Beans etc.
Core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 23.39 per cent in April 2025 on a year-on-year basis. On a month-on-month basis, the core inflation rate was 1.34 per cent in April 2025, down by 2.39 per cent compared to March 2025 (3.73 per cent).
The inflation rate of the newly introduced sub-index is, Farm Produce: 2.64 per cent , Energy: 9.21 per cent, Services: 3.44 per cent, and Goods: 3.89 per cent.
The NBS reports that on a year-on-year basis, the urban inflation rate in April 2025 was 24.29 per cent. On a month-on-month basis, the urban inflation rate was 1.18 per cent in April 2025, a decrease of 2.78 per cent compared to March 2025 (3.96 per cent).
The rural inflation rate in April 2025 was 22.83 per cent on a year-on-year basis. On a month-on-month basis, the rural inflation rate in April 2025 was 3.56 per cent, a fall of 0.17 per cent compared to March 2025 (3.73 per cent)
On state-Level Analyses, the all-item index for April 2025, on a year-on-year basis, was highest in Enugu (35.98 per cent), Kebbi (35.13 per cent), and Niger (34.85 per cent), while Ondo (13.43 per cent), Cross River (17.11 per cent), Kwara (17.28 per cent) recorded the lowest rise in headline inflation on a year-on-year basis. On a month-on-month basis, April 2025 recorded the highest increases in Sokoto (16.26 per cent), Nasarawa (16.02 per cent), Niger (14.74 per cent), while Oyo (-6.45 per cent), Osun (-4.54 per cent) and Ondo (-3.44 per cent) recorded declines in month-on-month inflation.
State-level analyses of the food index in April 2025 show that food inflation on a year-on-year basis was highest in Benue (51.76 per cent), Ekiti (34.05 per cent), Kebbi (33.82 per cent), while Ebonyi (7.19 per cent), Adamawa (9.52 per cent), and Ogun (9.91 per cent) recorded the slowest rise in food inflation on a year-on-year basis. On a month-on-month basis, however, April 2025 food inflation was highest in Benue (25.59 per cent), Ekiti (16.73 per cent), and Yobe (13.92 per cent), while Ebonyi (-14.43 per cent), Kano (-11.37 per cent) and Ogun (-7.06 per cent) recorded declines in food inflation on a month-on-month basis.