Nigeria’s headline inflation rate slowed to 22.97 percent in May 2025, a notable drop from the 23.71 percent recorded in April, according to the Statistician-General of the National Bureau of Statistics (NBS), Adeyemi Adeniran.
In a statement issued on Sunday, Adeniran said the decline of 0.74 percentage points marked a modest easing in inflationary pressures across various sectors of the economy.
He explained that the food and non-alcoholic beverages category contributed the most to the inflation rate, accounting for 9.20 percent of the overall figure.
This was followed by restaurants and accommodation services, which contributed 2.9 percent, and transport at 2.45 percent.
At the lower end of the spectrum were recreation, sport, and culture, with 0.07 percent; alcoholic beverages, tobacco, and narcotics at 0.09 percent; and insurance and financial services, which contributed 0.11 percent.
On food inflation, Adeniran noted that the rate stood at 21.14 percent on a year-on-year basis in May. However, month-on-month, the food inflation rate edged up slightly to 2.19 percent, compared to 2.06 percent in April, reflecting a 0.13 percentage point increase.
