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Nigeria’s inflation rate has dropped further in May 2025, settling at 22.97%, the National Bureau of Statistics (NBS) announced Monday.
The figure represents a drop from the 23.71% recorded in April.
Food inflation, a major driver of the consumer price index, also edged lower to 21.14% in May, from 21.16% in the previous month. The NBS attributed the decline primarily to base-year effects stemming from its updated inflation calculation methodology.
More to follow…
The article was originally published on Politics Nigeria.
