Nigeria’s inflation rate has dropped to 22.97% in May 2025, down from 23.71% in April, according to the National Bureau of Statistics (NBS).
This marks the second consecutive month of decline, signaling potential relief for consumers and policymakers as efforts to stabilise the economy begin to show early signs of impact.
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The moderation in inflation rate could be a positive development for the country, but prices of essential goods are still high.
Experts attribute the decline to the stabilisation of the macroeconomic environment, a drop in fuel prices, and reduced food costs.
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