November 23, 2025
Super Markets

Nigeria’s annual inflation rate rose for the first time since the data was rebased in January, advancing by24.2% in March, compared with 23.2% a month earlier, according to data published by the National Bureau of Statistics on Tuesday. Prices rose 1.1% in the month.

More pain is probably on the cards. A trade war unleashed by US President Donald Trump has triggered a sharp selloff in the price of oil — Nigeria’s main export — and depressed the naira, which will push up import costs.

The currency has declined 4.2% against the dollar since Trump announced a raft of global tariffs on April 2, while oil prices have slipped to about $65 per barrel. Nigeria’s annual budget for this year assumed a crude oil price of $75.

These developments will be on the minds of Central Bank of Nigeria policymakers when they meet May 19-20. Uncertainty on the outlook for the economy and inflation may encourage officials to hold interest rates steady for a second policy meeting in a row at 27.5%.

Alongside external pressures, policymakers will be watching food costs as farmers begin planting at the start of the rainy season — a period of leaner output that might drive up prices.

Nigeria annual food inflation eased to 21.8% in March from 23.5% the month before, while core price growth accelerated to 24.4% from 23%

125 thoughts on “Inflation rose to 24.2% in March as uncertainty mounts over new tariff

  1. Some really wonderful information, Gladiola I detected this. “It’s not what you are that holds you back, it’s what you think you are not.” by Denis Watley.

  2. Khám phá thế giới giải trí trực tuyến đỉnh cao tại MM88, nơi mang đến những trải nghiệm cá cược thể thao và casino sống động.

  3. Đến với J88, bạn sẽ được trải nghiệm dịch vụ cá cược chuyên nghiệp cùng hàng ngàn sự kiện khuyến mãi độc quyền.

Leave a Reply

Your email address will not be published. Required fields are marked *