Despite CPI Rebasing, Nigeria’s Inflation Rate Jumps To 24.23% In March 2025 -NBS

The National Bureau of Statistics (NBS) has announced that Nigeria’s inflation rate increased to 24.23 percent in March after months of respite.

This is coming on the heels of the recent rebasing of the country’s Consumer Price Index (CPI).

The Matrix Newspaper reports that Nigeria recently rebased her CPI from 2009 to 2024, leading to a significant drop in the reported inflation rate from 34.80% to 24.48%.

The NBS announced the increase in its Consumer Price Index (CPI) for March, released on Tuesday.

The new rate indicates an upward movement from the 23.18 percent reported in February.

The report added that the food inflation rate stood at 21.79 percent in March on a year-on-year basis.

“In March 2025, the headline inflation rate rose to 24.23 percent relative to the February 2025 headline inflation rate of 23.18 percent.

“On a month-on-month basis, the headline inflation rate in March 2025 was 3.90 percent.

“The food inflation rate was 21.79 percent year on year in March 2025,” NBS stated in a statement published on X on Tuesday.

This is the first time Nigeria’s CPI increased after its rebase in January 2025.