The National Bureau of Statistics (NBS) has disclosed that the nation’s Headline inflation rate rose to 24.23% in March 2025, relative to the February 2025 headline inflation rate of 23.18%.
NBS, in its Consumer Price Index (CPI) report for March 2025, released on Tuesday, said that the March 2025 Headline inflation rate showed an increase of 1.05% compared to the February 2025 Headline inflation rate.
The Bureau said, on a month-on-month basis, the Headline inflation rate in March 2025 was 3.90%, which was 1.85% higher than the rate recorded in February 2025 (2.04%).
This means that in March 2025, the
rate of increase in the average price level is higher than the rate of increase in the average price level in February 2025.
The Bureau attributed the increase in the headline index for for March 2025 to the Increase in the average price of some items in the basket of goods and services at the divisional level.
According to NBS, the Food inflation rate in March 2025 was 21.79% on a year-on-year basis. However, on a month-on-month basis, the Food inflation rate in March 2025 was 2.18%, up by 0.50% compared to February 2025 (1.67%).
The increase was attributed to the rate of increase in the average prices of Ginger (fresh), Garri (Yellow), Broken Rice (Ofada), Honey (Natural Production), Crabs, Potatoes, Plantain Flour, Periwinkle (Unshelled), Pepper (Fresh), etc.
Meanwhile, the Bureau said the Core inflation, which excludes the prices of volatile agricultural produces and energy stood at 24.43% in March 2025 on a year-on-year basis.
On a month-on-month basis, it said the Core Inflation rate was 3.73% in March 2025 up by 1.21% compared to
February 2025 (2.52%).
URBAN INFLATION
On a year-on-year basis, in March 2025, the Urban inflation rate was 26.12%. On a month-on-month basis, the Urban inflation rate was 3.96% in March 2025, up by 1.56% compared to February 2025
(2.40%).
RURAL INFLATION
The Rural inflation rate in March 2025 was 20.89% on a year-on-year basis. On a month-on-month basis, the Rural inflation rate in March 2025 was 3.73%, up by 2.57% compared to February 2025
(1.16%).
