By Jemimah Wellington, JKNewsMedia Reporter
HEADLINE INFLATION slowed to 22.97 per cent in May 2025, reflecting a 0.74 percentage point decline from the 23.71 per cent recorded in April, according to data released by the National Bureau of Statistics (NBS).
Month-on-month, the inflation rate dipped to 1.53 per cent, lower than April’s 1.86 per cent, signalling a slight reduction in the pace of price increases across major consumer categories, the NBS also reveals.
The body says food inflation rose by 21.14 per cent year-on-year and 2.19 per cent on a monthly basis.
Core inflation, which excludes prices of volatile agricultural items and energy, stood at 22.28 per cent year-on-year and increased by 1.10 per cent compared to the previous month.
Accordingly, major contributors to the overall inflation figure included food and non-alcoholic beverages at 9.20 per cent, restaurants and accommodation services at 2.97 per cent, and transport at 2.45 per cent.
Urban inflation was recorded at 23.14 per cent year-on-year and 1.40 per cent on a monthly basis. Rural inflation stood at 22.70 per cent year-on-year and rose to 1.83 per cent month-on-month, it further notes.
Among the states, the NBS says Borno posted the highest inflation rate at 38.93 per cent, followed by Niger at 34.97 per cent and Plateau at 32.35 per cent.
Katsina recorded the lowest rate at 16.25 per cent, ahead of Adamawa at 18.20 per cent and Delta at 18.41 per cent as reported by the NBS.
In closing, the NBS report reiterates ongoing inflationary pressures, though recent declines suggest gradual easing across key sectors.
