Nigeria’s headline inflation rate dropped to 22.97% in May 2025, from 23.71% recorded in April 2025, according to new data released by the National Bureau of Statistics, NBS.
This marks the second consecutive month of decline, as the latest figure reflects a continued easing of price pressures.
Experts attribute the decline to the stabilisation of the macroeconomic environment, with drop in fuel prices, and reduced food costs.
The moderation in inflation rate could be a positive development for the country, but prices of essential goods are still high.
(Editor: Terverr Tyav)
