The National Bureau of Statistics (NBS) has released inflate rate figures for the month of April 2025, disclosing that headline inflation rate eased to 23.71% relative to the March 2025 headline inflation rate of 24.23%.
TheNewsGuru.com (TNG) reports NBS released the inflation rate figures on its website on Thursday while maintaining that the Consumer Price Index (CPI) rose to 119.52 in April 2025.
According to the bureau, the April 2025 headline inflation rate showed a decrease of 0.52% compared to the March 2025 headline inflation rate.
Recall that NBS recently rebased the CPI to replace outgoing reference periods (2009) while explaining that rebasing aligns the price and weight reference periods with the current economic environment, ensuring methodological accuracy, updating the composition of the goods and services basket, revising item weights, and incorporating necessary improvements.
“Since consumption patterns evolve, the CPI basket is updated regularly, including the addition of new items. The weight reference period is now 2023, and the price reference period (Base year) is 2024. The updated CPI covers 934 product varieties classified into 13 divisions under the COICOP 2018 framework.
“The CPI framework includes indices such as the Urban National Index, Rural National Index, Headline Index, Food Index, Core Index, Imported Food Index, Goods Index, Services Index, Energy Index, All Items Less Farm Produce Index, and Farm Produce Index. This system ensures accurate price tracking across different sectors and regions, supporting economic analysis and policy formulation,” the NBS stated.
Meanwhile, according to the April 2025 CPI report, on a month-on-month basis, the headline inflation rate in April 2025 was 1.86%, which was 2.04% lower than the rate recorded in March 2025 (3.90%), meaning that in April 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in March 2025.
The report reads: “The Consumer Price Index (CPI) rose to 119.52 in April 2025, reflecting a 2.18-point increase from the preceding month. In April 2025, the Headline inflation rate eased to 23.71% relative to the March 2025 headline inflation rate of 24.23%.
“Looking at the movement, the April 2025 Headline inflation rate showed a decrease of 0.52% compared to the March 2025 Headline inflation rate.
“On a year-on-year basis, the Headline inflation rate was 9.99% lower than the rate recorded in April 2024 (33.69%). This shows that the Headline inflation rate (year-on-year basis) decreased in April 2025 compared to the same month in the preceding year (i.e., April 2024), though with a different base year, November 2009 = 100.
“Furthermore, on a month-on-month basis, the Headline inflation rate in April 2025 was 1.86%, which was 2.04% lower than the rate recorded in March 2025 (3.90%). This means that in April 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in March 2025”.