The National Bureau of Statistics (NBS) has reported that Nigeria’s inflation rate jumped to 24.23% in March 2025, escalating from the 23.18% recorded in February.
This update, part of the NBS’s monthly Consumer Price Index (CPI), was made public on Tuesday, April 15.
The data reflects a continued rise in consumer prices nationwide, signalling deeper economic concerns amid efforts to stabilize the economy.
According to the NBS, the inflationary increase is linked to persistent cost hikes across several sectors, especially food and transportation.
The consistent rise in prices is putting additional strain on citizens, particularly those in low and middle-income brackets.
With inflation steadily climbing for months, experts fear the trend may undermine economic recovery and threaten household consumption patterns.
The CPI tracks changes in the price of goods and services over time, offering insight into Nigeria’s macroeconomic performance.
March’s figures suggest that current government strategies might not be doing enough to curb inflation.
As inflation continues to erode purchasing power, policymakers may be forced to consider stronger fiscal reforms to stabilize prices and reduce economic hardship across the country.