Nigeria’s Inflation Rises To 24.23% In March As Food, Living Costs Soar

This is contained in a document published by the National Bureau of Statistics on inflation for March 2025.

Data released by the National Bureau of Statistics has shown that inflation in the country rose to 24.23% as of March 2025.

This is contained in a document published by the National Bureau of Statistics on inflation for March 2025.

“As of March 2025, the headline inflation rate rose to 24.23% relative to the February 2025 Headline inflation rate of 23.18%,” NBS stated

“Looking at the movement, the March 2025 Headline inflation rate showed an increase of 1.05% compared to the February 2025 Headline inflation rate.”

It continued, “Furthermore, on a month-on-month basis, the Headline inflation rate in March 2025 was 3.90%, which was 1.85% higher than the rate recorded in February 2025 (2.04%). This means that in March 2025, the rate of increase in the average price level was higher than the rate of increase in February 2025.

“On a year-on-year basis, in March 2025, the Urban inflation rate was 26.12%. On a month-on-month basis, the Urban inflation rate was 3.96% in March 2025, up by 1.56% compared to February 2025 (2.40%).”

“The Rural inflation rate in March 2025 was 20.89% on a year-on-year basis. On a month-on-month basis, the Rural inflation rate in March 2025 was 3.73%, up by 2.57% compared to February 2025 (1.16%),” the statement added.

This development comes as Nigerians continue to lament the high cost of living and high cost of survival.