Nigeria’s headline inflation rate slowed for the second consecutive month to 22.97 percent in May 2025 from 23.71 percent in April according to the National Bureau of Statistics (NBS).
On a month-on-month basis, inflation declined significantly to 1.53 percent in May from 1.86 percent in April, indicating a slower pace in the rise of prices across the economy.
This easing in inflation was driven by a slowdown in price increases across key segments, including farm produce, utilities, clothing, and health.