Nigeria’s inflation rate climbed sharply to 24.23% in March 2025, marking a significant increase from February’s 23.18%, according to the National Bureau of Statistics (NBS).
The data, published by the NBS on Tuesday, April 15, is part of its latest Consumer Price Index (CPI) report.
It indicates that the nation continues to face mounting inflationary pressures, with food, transportation, and basic household goods leading to a surge in prices.
Economic analysts had predicted a potential rise in inflation due to lingering currency instability and higher import costs, but the latest figures suggest a deeper concern for Nigerian households already struggling with the high cost of living.
The CPI serves as a primary gauge for tracking price movement in the economy, and March’s numbers reflect ongoing economic challenges that could prompt further adjustments in fiscal and monetary policies.
This continued upward trend raises questions about the effectiveness of current inflation control measures and may lead to calls for more aggressive economic interventions to protect the purchasing power of the average Nigerian.