Lagos — The National Bureau of Statistics’ Consumer Price Index report for May 2025 indicated a notable decline in Nigeria’s headline inflation rate to 22.97%, down from 23.71% recorded in April 2025.
This marks a continuation of the disinflationary trend observed in recent months and offers relief to consumers and businesses alike. On a year-on-year basis, the inflation rate showed significant deceleration from the 33.95% recorded in May 2024, representing a 10.98 percentage point drop within the same period.
This trend signals a gradual easing of inflationary pressures across key sectors of the economy. Despite this progress, inflation remained elevated above the CBN’s medium-term target (6-9%), with structural issues such as energy costs, insecurity, and transportation bottlenecks still exerting upward pressure on prices.
As such, there is a need for continued policy coordination between fiscal and monetary authorities to consolidate gains.
Interventions aimed at stabilising power supply, supporting domestic production, and reducing logistics costs are critical in sustaining this downward inflation trend and fostering macroeconomic stability in the months ahead.
