Nigeria’s inflation rate surged to 24.23% in March 2025, up from 23.18% in February, according to fresh data released by the National Bureau of Statistics (NBS) on Tuesday.
The latest Consumer Price Index (CPI) report signals a sharp 1.05% jump in headline inflation and a return to levels last seen at the start of the year (24.48%) following the bureau’s CPI rebasing.
On a month-on-month basis, inflation hit 3.90% in March — significantly higher than February’s 2.04%, marking a 1.85% increase.
“This means that in March 2025, the rate of increase in the average price level is higher than the rate recorded in February,” the NBS stated.
The data points to sustained pressure on consumer prices, raising fresh concerns about the cost of living in Africa’s largest economy.
