Hardship Bites as Nigeria’s Inflation Rises to 24.23%

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• Food, Living Costs Soar

BY BONNY AMADI

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.