Nigeria’s inflation rate has gone up again, reaching 24.23% in March 2025. This comes after a few months of stability. The National Bureau of Statistics (NBS) shared this news in its Consumer Price Index (CPI) report released on Tuesday.

In February 2025, the inflation rate was 23.18%, so the March number shows a clear rise. On a month-to-month basis, the inflation rate for March was 3.90%.

Food prices have also increased. According to the report, food inflation in March 2025 was 21.79% compared to the same month last year.

This rise is the first time inflation has gone up since Nigeria’s CPI was updated (re-based) in January 2025.

In February, the Monetary Policy Committee (MPC) kept interest rates unchanged at 27.50%. With the new inflation data, the MPC will now have to decide if they should raise interest rates again or keep them the same.