BREAKING: Nigeria’s Inflation Rate Climbs To 24.23% In March 2025

Nigeria’s inflation rate surged to 24.23% in March 2025, marking a notable increase in the country’s cost of living, according to the most recent data released by the National Bureau of Statistics (NBS).......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>

This figure reflects a significant uptick from the 23.18% recorded in February 2025, highlighting intensifying economic pressure on Nigerian households as inflationary forces continue to erode purchasing power and strain family incomes.

At the time this report was filed, the NBS had yet to publish the detailed inflation figures via its official communication channels. Nonetheless, the NBS has confirmed a continued rise in headline inflation, with the March figure showing a 1.05% increase from February’s rate. This development was contained in the latest Consumer Price Index (CPI) report for March 2025 released by the agency.

The report stated: “The Consumer Price Index (CPI) increased to 117.34 in March 2025, indicating a 4.40-point rise compared to the previous month. In March 2025, the headline inflation rate rose to 24.23%, up from the 23.18% recorded in February 2025. This indicates a month-on-month rise of 1.05 percentage points.”

This development marks the first upward shift in the Consumer Price Index since the index was rebased in January 2025. Analysts believe this trend may signal the onset of a new inflationary trajectory that could influence future decisions regarding Nigeria’s monetary policy.

It would be recalled that in February, the Central Bank of Nigeria’s Monetary Policy Committee (MPC) opted to maintain the benchmark interest rate at 27.50%. However, with the inflation rate accelerating once again, the MPC is now under pressure to decide whether to sustain the current rate or implement further tightening measures to curb the inflationary trend.