By Emeka Blast 
Nigerian Inflation Drops to 22.97%, Offering Relief
Nigeria’s inflation rate has decreased to 22.97% in May 2025, down from 23.71% in April, marking a continued downward trend for the second consecutive month.
This decline follows a significant drop from 34.80% in December 2024, attributed to the rebasing of the Consumer Price Index (CPI) from a 2009 base year to 2024. The rebasing aimed to better reflect current consumption patterns and economic realities.
Food inflation, a major component of overall inflation, also saw a slight decrease to 21.14% in May from 21.26% in April.
The Central Bank of Nigeria (CBN) has maintained its key interest rate unchanged for the second time this year, following six increases in 2024. The CBN cited signs of improved macroeconomic stability and prospects for continued moderation in inflation as reasons for this decision.
Despite the positive trend, experts caution that the inflation rate remains high, indicating that while prices are rising at a slower pace, they are still increasing. Analysts suggest that structural economic improvements, particularly in agriculture and energy supply, are necessary for sustained price stability.
