Nation’s Inflation Decreases To 22.97 Percent As Borno State Records Highest Food Inflation – NBS

The headline inflation rate for the month of May 2025 has decreased to 22.97% as against April 2025 rate of 23.71%, according to the monthly statistics of the Consumer Price Index (CPI) released Monday.

The National Bureau of Statistics (NBS) explained that the decrease represents a decline of 0.74% from April 2025, citing Food and non-alcoholic Beverages: 9.20%, Restaurants & Accommodation Services: 2.97%, and Transport: 2.45% as three major contributors driving the headline inflation for the month under review.

The food inflation rate in May 2025 was 2.19% making it higher by 0.13% compared to April 2025 (2.06%). The NBS said the increase could be attributed to the rate of increase in average prices of items such as Yam, Avenger (Ogbono/Apon), Cassava Tuber, Maize Flour, Fresh Pepper, Sweet Potatoes, etc.

The Statistician General of the Federation, Prince Adeyemi Adeniran in a statement said “At the divisional level, the three major contributors to the headline inflation were Food and non-alcoholic Beverages: 9.20%, Restaurants & Accommodation Services: 2.97%, and Transport: 2.45%; while the least contributors were Recreation, Sport, and Culture: 0.07%, Alcoholic Beverages, Tobacco, and Narcotics: 0.09%, and Insurance and Financial Services: 0.11.

“On a month-on-month basis, the headline inflation rate in May 2025 was 1.53%, which was 0.33% lower than the rate recorded in April 2025 (1.86%).

“The food inflation rate in May 2025 was 21.14% on a year-on-year basis. On a month-on-month basis, the food inflation rate in May 2025 was 2.19%, which rose by 0.13% compared to April 2025 (2.06%).

“The increase can be attributed to the rate of increase in average prices of items such as Yam, Avenger (Ogbono/Apon), Cassava Tuber, Maize Flour, Fresh Pepper, Sweet Potatoes, etc.”

On state-Level Analyses of the inflation, he explained that state CPI for April 2025 for some states has been revised due to updated information.

Adeniran said: “This change affected all states except for Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, and the FCT. The revision, however, does not affect the National CPI for April 2025.

“The all-item index for May 2025, on a year-on-year basis, was highest in Borno (38.93%), Niger (34.97%), and Plateau (32.35%), while it recorded the lowest in headline inflation on a year-on-year basis in Katsina (16.25%), Adamawa (18.20%), Delta (18.41%).

“On a month-on-month basis, May 2025 recorded the highest increases in Bayelsa (9.11%), Bauchi (4.85%), and Borno (4.42%), while it recorded declines in Kaduna (-6.75%), Jigawa (-4.40%), and Edo (-2.94%).

“State-level analyses of the food index in May 2025 show that food inflation on a year-on-year basis was highest in Borno (64.36%), Bayelsa (39.85%), Taraba (38.58%); while it recorded the slowest rise in Katsina (6.90%), Rivers (9.18%), and Kwara (11.31%).

“On a month-on-month basis, in May 2025 food inflation was highest in Bayelsa (12.68%), Cross River (11.15%), and Anambra (9.10%); while states like Katsina (-5.42%), Jigawa (-4.02%) and Kaduna (-3.27%) recorded declines in food inflation on a month-on-month basis.”