FX.co ★ Nigeria Inflation Rate Inches Up in March

In March 2025, Nigeria's annual inflation rate edged up slightly to 24.23%, compared to 23.18% in the previous month, marking the lowest point since June 2023. While food inflation, a major factor in the inflation index, remained high, it decreased to 21.79% from 23.51% in February. Meanwhile, core inflation, which omits the prices of volatile agricultural goods and energy, increased to 24.43% from the prior rate of 23.01%. On a month-to-month basis, consumer prices saw a rise of 3.90% in March, up from 2.04% in February.